Forex Technical Analysis: Trend potential – We’re long

GBPUSD – Flat

We're long

Technical observation

After breaking above a resistance zone 1.3422-1.3306, price corrected to it once then went up, in the past weeks it has been pulling back to the zone and is currently within it, last week’s candle was bullish and could not penetrate below it.If you bought the pair last week I would advise you remain in the trade with your target at 1.4701,if you had not bought it yet, you can still long the pair now within the zone with your take profit at 1.4701 and stop loss around 1.2995.I expect a rise in price towards 1.4701 and a breakout above it for a further rise towards the resistance line 1.5737.Short positions can only be advised below 1.3306.

Technical levels

Resistance levels

R1.1.3406

R2.1.3463

R3.1.3622

Pivot

1.3305

Support levels

S1.1.3248

S2.1.3147

S3.1.2988

Trade signal

Long GBP/USD now with your take profit at 1.4701 and stop loss around 1.2995.

101% Double the volume

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