10 Januari 2018, GBP/USD
Technical observation
The general trend for the pair GBPUSD on the 4H chart above is upward, while on the trend price retraced thrice at a zone(1.3507-1.3492) making it a key support zone, currently the price is rallying towards it and I expect a rejection at it or even the price to break above the key line 1.3604 to confirm that were still long.If you had not entered a trade, I would advice that you wait for a retracement to the zone and buy GBP within the zone towards 1.3604.Incase price breaks below the zone, wait for a retracement to it to confirm the price is moving down then enter into short position.
Technical levels
R1.1.3537
R2.1.3541
R3.1.3547
Pivot
1.3540
Support levels
S1.1.3531
S2.1.3529
S3.1.3523
Trade signal
Wait for a retracement to the zone (1.3507-1.3492) to buy GBP with your take profit at 1.3604 and stop loss slightly below 1.3492