Remain flat | 31 January 2018

31 January 2018, GBP/USD

Remain flat

Technical observation

On the 4H chart above,GBP while on an upward trend retraced at a support zone (1.3943-1.3925),price then rose up to 1.4344 and could not rise beyond the line it got rejected at it and is currently rallying towards the support zone. I expect a possible rejection at the zone to rebuy the pair with my ideal target at 1.4344, in case price breaks below the zone then I advise you wait for a pull back to the zone before you enter short positions with your first take profit at 1.3761 and the next at 1.3491.Right now if you had not entered a trade I would advise you remain flat and wait for a correction to the zone.

Technical levels

Resistance levels

R1.1.4159

R2.1.4172

R3.1.4196

Pivot

1.4150

Support levels

S1.1.4135

S2.1.4124

S3.1.41

Trade signal

Remain flat.

FreshForex cancels commissions!

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus