08 Maret 2018, GBP/USD
Technical observation
GBPUSD retraced at a support zone (1.3802-1.3759) thrice when the price was moving up, right now price is rallying towards it and i don’t expect a breakout below it instead i expect a rejection of price within it for bullish movement towards the key resistance line 1.4265, I would advise you enter long position within the zone with your ideal target at 1.4265 and stop loss around 1.3645, in case of a breakout above 1.4265, wait for a retracement to it to confirm GBP is still long before you enter a trade. If there’s a clear breach of price below 1.3759 with a big red candle, wait for a pull back to it before you short the pair.
Technical levels
Resistance levels
R1.1.3895
R2.1.3942
R3.1.4053
Pivot
1.3831
Support levels
S1.1.3784
S2.1.372
S3.1.3608
Trade signal
Buy GBP within (1.3802-1.3759) with your take profit at 1.4265 and stop loss around 1.3645