27 April 2018, GBP/USD
Technical observation
After breaking up above a resistance zone 1.3787-1.3754, GBPUSD used this zone as a support and has tested it thrice .Currently price is approaching this zone and a buy opportunity could show up soon. As long as price is above the support zone 1.3787-1.3754, price is expected to have a bullish momentum towards 1.4336 and even breakout above it to rise further. You could wait for the retracement to the zone then buy GBP after a rebound from it with your take profit at 1.4336.If price breaks below 1.3787-1.3754 or gaps below it price could rally downwards steadily towards the support line 1.3302.
Technical levels
Resistance levels
R1.1.4056
R2.1.411
R3.1.4192
Pivot: 1.4035
Support levels
S1.1.3974
S2.1.3947
S3.1.3865
Trade signal
Wait for a buy signal to buy GBP with your take profit at 1.4336 and stop loss around 1.3617