10 April 2018, GBP/USD
Technical observation
On the daily chart above,GBPUSD broke above a resistance zone (1.3999-1.3965) it then retraced to the zone twice before moving up, Currently the price is rallying above it and I expect either a pull back to the zone or a rise in in price towards the key line 1.4286 and a breakout above it for bullish movements of price.I would advise you remain flat and wait for either a correction to the zone or a breakout above 1.4286 to buy GBP.In case of a breakout below (1.3999-1.3965),wait for a correction to it to confirm price is on a bearish momentum before you enter short position with GBP towards the key line 1.3754.
Technical levels
Resistance levels
R1.1.4136
R2.1.4183
R3.1.4307
Pivot
107.06
Support levels
S1.1.4012
S2.1.3936
S3.1.3812
Trade signal
Remain flat.