25 Januari 2018, GBP/USD
Technical observation
On 19th January this year, price broke above a support line 1.3934 and failed to be corrected to it instead it was contained with a massive rise towards the hourly resistance line 1.4236 a pin bar also closed at the line. I expect a pull back to 1.4236 followed by a bullish move of price towards 1.4325 and even above it.If price goes below 1.4236 then I expect it to drop to 1.3934 or even break below it, if that happens then I would advise you wait for a retracement to the broken line before you enter short position, right now I would advise you wait for a retracement to 1.4236 then buy GBP.
Technical levels
Resistance levels
R1.1.4071
R2.1.4001
R3.1.3991
Pivot
1.3987
Support levels
S1.1.3975
S2.1.3969
S3.1.3953
Trade signal
Buy GBP at 1.4236 with your take profit above 1.4325 and stop loss at 1.4185