Remain long | 04 April 2018

04 April 2018, GBP/USD

Remain long

Technical observation

GBPUSD broke above a key line 1.3995 then retraced to it twice, currently price is rallying above the line towards 1.4273 and I expect a breakout above it for further increase in price. If you had bought GBP already, remain in the trade up to 1.4273 and if price beaks above it, wait for a correction to it then continue long with GBP.I f you had not bought GBP after the previous rejection, remain flat and wait for either a correction to 1.3995 or a breakout above 1.4273 and a correction to it then buy GBP.If price goes below the key zone (1.3789-1.3753), with a big red candle, then that would be the best time to short GBP.

Technical levels

Resistance levels

R1.1.4164

R2.1.4248

R3.1.4378

Pivot

1.4119

Support levels

S1.1.4034

S2.1.3987

S3.1.3857

Trade signal

Remain long with GBP.

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Imelda Maseno
Analyst of «FreshForex» company
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