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Re buy GBP

Re buy GBP | 06 February 2018

06 February 2018, GBP/USD

Re buy GBP

Technical observation

While on an upward trend, GBPUSD retraced at a support line 1.3759,price then went up but got rejected a t a resistance zone (1.3946-1.3915),after hours of trading, price broke above the zone and retraced back to it but got rejected, Currently the pair is at the zone and I expect a rejection of price at it to rebuy the pair with my take profit at 1.4270 and stop loss at 1.3881.In case there’s a clear breakout below (1.3946-1.3915) then I would advise you wait for a retracement to the zone before you short GBP with your take profit at 1.3759.

Technical levels

Resistance levels

R1.1.3967

R2.1.3976

R3.1.3999

Pivot

1.3956

Support levels

S1.1.3944

S2.1.393

S3.1.3907

Trade signal

Re buy GBPUSD at (1.3946-1.3915) with your take profit at 1.4270 and stop loss at 1.3881.

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Imelda Maseno
Analyst of «FreshForex» company
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