GBPUSD – Flat
Technical observation
Yesterday at 2000hrs GBPUSD broke above a key resistance zone (1.4045-1.4023), price then tried going up but was pulled back to the zone and got rejected then went up. Currently price is still rallying above the zone and I expect a pull back and a possible rejection of it at or around the zone to enter long positions. If you had not bought the pair then my advice, is wait for the correction to the zone then buy GBP with your first take profit at 1.4261 and the next at 1.4342 and your stop loss.4023) around 1.3970.Short positions can only be recommended after a breakout below (1.4045-1.4023) towards 1.3833.
Technical levels
Resistance levels
R1.1.3839
R2.1.3847
R3.1.3862
Pivot
1.3832
Support levels
S1.1.3824
S2.1.3817
S3.1.3802
Trade signal
Wait for a correction to (1.4045-1.4023) then buy GBP with your first take profit at 1.4261 and the next at 1.4342 and your stop loss.4023) around 1.3970.
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