22 Januari 2018, GBP/USD
Technical observation
Previously GBP broke above a key resistance line 1.3297 and retraced to it then went up. Currently price is still rallying above the line and I expect a rejection of it at to buy GBP towards the line 1.4604,if this line is broken then ill wait for a retracement to it to rebuy GBP with my new take profit at 1.5890 or even further up if this line gets broken too. Right now only long positions are ideal and can be advise at the line 1.3297 or after a breakout above the line 1.4604 and a retracement to it towards 1.5890.the key lines to look for on this chart are1.5890,1.4606,1.3297and 1.2731.
Technical levels
Resistance levels
R1.1.3959
R2.1.4064
R3.1.4284
Pivot
1.3842
Support levels
S1.1.3738
S2.1.362
S3.1.3399
Trade signal
Wait for a retracement to 1.3297 and buy GBP it with your take profit at 1.4604 and stop loss slightly below 1.3297