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Buy GBP within(1.3507-1.3493)

Buy GBP within(1.3507-1.3493) | 12 January 2018

12 January 2018, GBP/USD

Buy GBP within(1.3507-1.3493)

Technical observation

chart above is upward. Price retraced at key support zone(1.3507-1.3493) and currently is still rallying above the zone and I expect a bounce from it to buy GBP but not for a long time with my take profit at 1.3580 and stop loss at 1.3456. if price breaks my take profit then ill wait for a pull back to it and buy GBP again.Incase price breaks below the zone then wait for a retracement to the just broken zone to short GBP towards 1.3299.As at niw,only long positions can be advised.The key lines to look for on this chart are 1.3299 and 1.3580.

Technical levels

Resistance levels

R1.1.3549

R2.1.3555

R21.3562

Pivot

1.3550

Support levels

S1.1.3545

S2.1.3542

S3.1.3535

Trade signal

Buy GBP with your take profit at 1.3580 and stop loss at 1.3456.FreshForex cancels commissions!

Imelda Maseno
Analyst of «FreshForex» company
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