GBPUSD – Flat
Technical observation
Yesterday, GBPUSD rose towards the key resistance zone (1.4072-1.4023) and the green candle closed around it.today the pair is still rallying below the zone and I don’t expect a breakout above the zone but a possible rejection of price within or around the zone and a decline in price towards 1.3786 or even lower to 1.3304 and 1.3049,right now I would enter short position with my first target at 1.3786 and the next at 1.3304 and my stop loss at 1.4190.If there’s a clear breach above (1.4072-1.4023) with a big green candle then that would be the best time to long GBP after a retracement to the zone.
Technical levels
Resistance levels
R1.1.3953
R2.1.4082
R3.1.4306
Pivot
1.3864
Support levels
S1.1.373
S2.1.3636
S3.1.3412
Trade signal
Short GBP around (1.4072-1.4023) with your take profit at 1.3786 and stop loss at 1.4190
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