Forex Technical Analysis: Trend potential – Buy from 1.32336

GBPUSD – Flat

Buy from 1.32336

Technical Observation:

Gbp is currently trading within a range 1.33093-1.32336. While the price is within this range, I choose to trade reversals, and should the price break out to the upper side, then I’ll look for an upward position with my take profit at 1.34593. and on the lower side, in case of a break below 1.32336, then this will be a good place to sell Gbp towards 1.31180 or even lower. On its way downwards, the key line to check for include 1.32000 and 1.31150.

Technical Levels

Resistance levels

R1: 1.3354

R2: 1.3442
R3: 1.3656
Pivot
1.3229
Support Levels
S1: 1.281
S2: 1.3015
S3: 1.3145
Trade Signal
Buy from 1.32336

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