GBPUSD – Flat
Technical Observation:
On the weekly chart above, Gbp was supported by the weekly support line 1.3860, this is a key level and unless it is breached with a big red candle, I expect thrush to the upper side with an ideal take profit at 1.4640, As it is on the weekly chart above, if you did not go long around 1.3860, its good to wait for another buy opportunity to rebuy gbp towards 1.4640, on the way upwards, the key lines to look for include 1.4160, 1.4375 and 1.4640, a break above these lines will push the price further upwards towards 1.5590.
Technical Levels
Resistance levels
R1: 1.4275
R2: 1.4428
R3: 1.4728
Pivot
1.4127
Support Levels
S1: 1.3527
S2: 1.3827
S3: 1.3975
Trade Signal
Buy Gbp around 1.3860 towards 1.4640
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