11 January 2018, GBP/USD
Technical observation
Previously price broke below a zone (1.3340-1.3306)then retraced to it thrice making it a key resistance zone. Price then broke above it and was contained with two retracement s to it, currently price is declining steadily and I expect a bounce from it to pick long positions towards 1.3659,incase price breaks below the zone I’ll wait for a pullback to the just broken zone to confirm that the price is moving down then short GBP towards the key line 1.3055,I’ll advice you buy GBP within the key zone with your take profit at 1.3659.
Technical levels
Resistance levels
R1.1.3552
R2.1.3598
R3.1.3678
Pivot
1.3516
Support levels
S1.1.3472
S2.1.3436
S3.1.3356
Trade signal
Buy GBP within the key zone with your take profit at 1.3659 and your stop loss slightly below 1.3306