GBPUSD – Flat
Technical observation
Recently,GBPUSD broke above a resistance line 1.3759rallied above it but has just pulled back to it.This is a potential buy place and as long as it is not breached to the lower side with a big red candIe I expect a possible bullish momentum with an ultimate target at 1.4940.The idea is to buy this pair around 1.3759 with your stop loss below 1.3759.On the other side should the price break below 1.3759 with a big red candle, then I expect a decline of it towards 1.2725 or even lower, and I would advise you wait for a correction before you enter short position.
Technical levels
Resistance levels
R1.1.4062
R2.1.43
R3.1.4687
Pivot
1.3913
Support levels
S1.1.3676
S2.1.3527
S3.1.314
Trade signal
Buy this pair around 1.3759 with your stop loss below 1.3759 and take profit at 1.4940
You may check other analytical reviews on FreshForex website. Source: freshforex.com.