Look for a short position now towards 1.3998 | 13 April 2018

13 April 2018, GBP/USD

Look for a short position now towards 1.3998

Technical Observation:

GBP is currently trading above its daily pivot line but below a key resistance line 1.4240. Despite the previous surge to the upper side, unless the price clearly breaks above the 1.4240 with a big green candle, this is a clear sellers zone. and therefore, I choose to hunt for potential sell orders here with my first take profit at 1.3998 and the next take profit at 1.3805. If you're a bit scared to short now, you could wait for a break below the supportive trend line, then a pullback to the same trend line then sell, as indicated on the chart above. Technical Levels Resistance levels R1: 1.4271

R2; 1.431
R3: 1.4413 Pivot 1.4208 Support Levels S1: 1.4004
S2: 1.4106
S3: 1.4169 Trade Signal Look for a short position now towards 1.3998

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Imelda Maseno
Analyst of «FreshForex» company
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