GBPUSD – Flat
Technical observation
GBPUSD went below a key support zone( 1.4138-1.4081) with a big red candle then continued further below up to a key line 1.3762,price then got corrected back to the zone but could not penetrate above it and got rejected then went down, currently price is rallying towards the resistance zone and I expect a rejection of it at the zone ,I also expect possible bearish movement of price towards 1.3762 and a breakout below it towards 1.3301.I would advise you short GBPUSD after the correction with your take profit at 1.3762 and stop loss around 1.4260.
Technical levels
Resistance levels
R1.1.412
R2.1.4206
R3.1.4353
Pivot
1.4058
Support levels
S1.1.3973
S2.1.3911
S3.1.3764
Trade signal
Sell GBPUSD after the correction to (1.4138-1.4081) with your take profit at 1.3762 and stop loss around 1.4260.
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