Buy GBPUSD now | 01 Mei 2018

01 Mei 2018, GBP/USD

Technical observation

The pair on the daily chart above is trading on an upward trend, on its way up price has been retracing at a key support zone 1.3783-1.3752 ,it has touched this zone four times and in all these times has not been able to penetrate below it making it a key support zone. Currently price is within it and I expect a rejection of it for possible bullish momentum towards the resistance line 1.4701 and a breakout above it for a further rise in price. You can buy GBPUSD now with your take profit at 1.4701 and stop loss around 1.3569.In case of a breakout above 1.4701, remain long after the second retracement to it.

Technical levels

Resistance levels

R1.1.3894

R2.1.4008

R3.1.4195

Pivot

1.3821

Support levels

S1.1.3707

S2.1.3634

S3.1.3446

Trade signal

Buy GBP now with your take profit at 1.4701 and stop loss around 1.3569.

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Imelda Maseno
Analyst of «FreshForex» company
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