GBPUSD – Flat
Technical observation
Yesterday GBPUSD broke up above a key resistance line 1.4286 and is currently above it.I expect a correction to it followed by a rejection of price for a possible bullish movement of price towards 1.4604.My advice, wait for a correction to the broken line then long GBP with your take profit at 1.4604 and stop loss around 1.4213.In case of a breakout above 1.4604.wait for a correction to it then continue long with GBP.Short positions can only be advised in case there’s a breakout below the zone (1.3999-1.3965) followed by a retracement to the zone. Right now wait for a correction to 1.4286 to buy GBP.
Technical levels
Resistance levels
R1.1.4271
R2.1.431
R3.1.4412
Pivot
1.4208
Support levels
S1.1.4168
S2.1.4106
S3.1.4003
Trade signal
Wait for a correction to 1.4286 to buy GBP.
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