Technical observation
The pair on the daily chart above went up a resistance zone, (1.3786-1.3738), price then retraced to it twice then up to a key line 1.4263 but could not penetrate above it and got rejected. Currently the pair is rallying toward the support zone and I expect a possible rejection of it at the zone to rebuy GBP with my take profit at 1.4263 and stop loss around 1.3597.If price breaks below the zone, wait for a retracement to it before you enter short positions with your target at 1.3304,and in case price breaks above 1.4263,wait for a retracement to it then continue long.
Technical levels
Resistance levels
R1.1.412
R2.1.4206
R3.1.4353
Pivot
1.4063
Support levels
S1.1.3973
S2.1.3911
S3.1.3764
Trade signal
Wait for a correction to (1.3786-1.3738) then re buy GBPUSD with your take profit at 1.4263 and stop loss around 1.3597.
Origin: FreshForex
