Forex Technical Analysis: Trend potential – Wait for a pullback to sell

GBPUSD – Flat

Wait for a pullback to sell

Technical observation

As I predicted yesterday,GBPUSD went down and even broke below the lower key line 1.4143,currentlt it is rallying below the broken line and I expect a correction to it and a rejection of price for a possible bearish move towards the lower key line 1.3987,I would advise you wait for a correction1.4143 to short GBP with your take profit at 1.3987 and stop loss around 1.4191.If price breaks above 1.4143 and gets rejected at the zone (1.4237-1.4225) you can still short GBP form the zone in case there’s no breakout above it.Right now, wait for a correction to the broken line then sell GBP towards 1.3987.

Technical levels

Resistance levels

R1.1.4245

R2.1.4252

R3.1.4263

Pivot

1.4243

Support levels

S1.1.4234

S2.1.4229

S3.1.4218

Trade signal

Wait for a correction to 1.4143 to sell GBP with your take profit at 1.3987 and stop loss around 1.4191.

FreshForex cancels commissions!

You may check other analytical reviews on FreshForex website. Source: freshforex.com.