GBPUSD – Flat
Technical Observation:
Since bouncing off from the lower supportive trend line, Gbp has been in an active up trend and is still very bullish on almost all the time frames. I expect a surge towards 1.4525 or even a breakout to continue upwards. As it is on the weekly chart above, I choose to remain long with my first take profit at 1.4355 and the next at 1.4528. . On the other side, if the price should break below 1.4113, then I may consider a short position towards 1.3485.
Technical Levels
Resistance levels
R1: 1.4305
R2: 1.4728
R3: 1.4275
Pivot
1.4127
Support Levels
S1: 1.3528
S2: 1.3825
S3: 1.3975
Trade Signal
Long towards 1.4528
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