26 April 2018, GBP/USD
Technical observation
Recently,GBP has been declining steadily towards the zone 1.3787-1.3754,I expect a possible rejection of it within or around the zone for bullish movement of price towards the resistance line 1.4336 and a possible breakout above it for a further rise in price towards the weekly resistance line 1.4701..Right now remain flat and wait for a close within the zone to long GBP towards 1.4336.In case of a clear breach below 1.3787-1.3754 with a big red candle, wait for a correction to the broken zone then short GBP on the next correction towards 1.3302 just to be sure price is on a bearish a move.
Technical levels
Resistance levels
R1.1.4056
R2.1.411
R3.1.4192
Pivot: 1.4033
Support levels
S1.1.3974
S2.1.3947
S3.1.3865
Trade signal
Remain flat