GBPUSD – Flat Technical Observation: On the 4 hour chart above, a key support line can be seen around 1.3408-1.3399. Unless there’s a clear breakout below this zone with a big red candle, I expect this line to be a demand zone. If not long already, wait for a perfect pullback to this zone then pick a long position with your take profit at 1.3550. Should the price break below 1.3399, then I’ll wait for a pullback to the just broken line to pick a short position with an ideal take profit at 1.3220. On the way downwards, the key lines to look for include 1.3355, 1.3290 and lastly 1.3222. Technical Levels Resistance levels R1: 1.3488 R2: 1.3532 R3: 1.3636 Pivot 1.3429 Support Levels S1: 1.3222 S2: 1.3326 S3: 1.3385 Trade Signal Buy Gbp around 1.3408-1.3399 towards 1.3550
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