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Long GBP now

Long GBP now | 02 March 2018

02 March 2018, GBP/USD

Long GBP now

Technical observation

Just like the pair EURUSD,GBPUSD also did not breach the yesterdays’ support zone, it went down to a lower support zone(1.3803-1.3756) and it could not break below it, price got rejected within the zone and is currently trading towards a key resistance line 1.4256,you can still buy the pair now within the zone with your take profit at 1.4265 and stop loss around 1.3596.If there’s a clear breach below it, wait for a correction to it to confirm bearish movement of price before you enter short position with you ideal target at 1.3507.You can also continue long after a break out above 1.4265 and a pull back to it.

Technical levels

Resistance levels

R1.1.4011

R2.1.4067

R3.1.42

Pivot

1.3936

Support levels

S1.1.3878

S2.1.3801

S3.1.3668

Trade signal

Buy GBPUSD now with your take profit at 1.4265 and stop loss around 1.3596.

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Imelda Maseno
Analyst of «FreshForex» company
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