GBPUSD – Flat
Technical observation
GBP/USD breached above a resistance zone 1.3317-1.3202 with a big green candle and corrected to it twice before moving up. Recently price pulled back to the zone again but could not penetrate below it, it was rejected within the zone and is currently showing signs of bullish momentum towards 1.4615.I expect a possible rise in price towards 1.4615 and a breakout above it followed by a further rise towards the resistance 1.5726.I’m looking to long the pair now within the zone with my ideal target at 1.4615 and stop loss around 1.2775.Only long positions look ideal and can be recommended on the chart above.
Technical levels
Resistance levels
R1.1.3366
R2.1.3495
R3.1.3756
Pivot
1.2324
Support levels
S1.1.3105
S2.1.2973
S3.1.2712
Trade signal
Long GBP now with your take profit at 1.4615 and stop loss around 1.2775.
Do you know against which currencies GBP is the most profitable?
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