02 Maret 2018, GBP/USD
Technical observation
Just like the pair EURUSD,GBPUSD also did not breach the yesterdays’ support zone, it went down to a lower support zone(1.3803-1.3756) and it could not break below it, price got rejected within the zone and is currently trading towards a key resistance line 1.4256,you can still buy the pair now within the zone with your take profit at 1.4265 and stop loss around 1.3596.If there’s a clear breach below it, wait for a correction to it to confirm bearish movement of price before you enter short position with you ideal target at 1.3507.You can also continue long after a break out above 1.4265 and a pull back to it.
Technical levels
Resistance levels
R1.1.4011
R2.1.4067
R3.1.42
Pivot
1.3936
Support levels
S1.1.3878
S2.1.3801
S3.1.3668
Trade signal
Buy GBPUSD now with your take profit at 1.4265 and stop loss around 1.3596.