GBPUSD – Flat
Technical observation
On the daily chart above,GBP is currently retracing to a support line 1.4072 and I expect a possible rejection at the line for a bullish momentum towards 1.4375,in case the pair goes below 1.4072 then i would remain flat and wait for a correction to the lower support line 1.3840 then buy the pair around It with my take profit at 1.4357.If there’s a clear breakout below 1.3840 then I would wait for a pullback to the line to confirm a bearish move before I enter short positions. Right now as long as 1.3840 protects the upper side only long positions can be advised.
Technical levels
Resistance levels
R1.1.4254
R2.1.4347
R3.1.4498
Pivot
1.4200
Support levels
S1.1.4103
S2.1.4044
S3.1.3892
Trade signal
Wait for a pullback to buy GBP with your take profit at 1.4357 and stop loss at 1.3979
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