GBPUSD – Flat Technical Observation: After opening slightly lower than the Friday’s opening price, Gbp rose merely 90 pips before shading almost 90% the value it gained. I expect this decline to be a mere retracement towards 1.3442 where I’ll be looking to rebuy Gbp towards my take profit still fixed at 1.3600. As it is on the week chart above, its still to early to rule out the possibility of retracing even further low, but if I can see a good force from the lower side, then I will consider a buy position towards 1.3600. If the price breaks above this line, then I expect a rise towards 1.4616. Technical Levels Resistance levels R1: 1.3406 R2: 1.347 R3: 1.3645 Pivot 1.3296 Support Levels S1: 1.2947 S2: 1.3121 S3: 1.3232 Trade Signal Retracing further. I’m flat
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