GBPUSD – Flat
Technical observation
Yesterday, GBPUSD broke down below a key support zone (1.4237-1.4225) with a big red candle, immediately after the breakout,corrected to the zone but could not penetrate above it and was rejected it then rallied down and is currently correcting to the zone and I expect a possible rejection within or a round the zone for bearish movement of price towards the key line 1.4143.I also expect a breakout below the line for a further decline in price towards the lower key line 1.3987.I would advise you wait for a correction to the zone to sell GBP with your take profit at 1.4143 and stop loss around 1.4284.
Technical levels
Resistance levels
R1.1.4245
R2.1.4252
R3.1.4263
Pivot
1.4241
Support levels
S1.1.4234
S2.1.4229
S3.1.4218
Trade signal
Wait for a correction to the zone to sell GBP with your take profit at 1.4143 and stop loss around 1.4284.
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