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Buy GBP now

Buy GBP now | 05 March 2018

05 March 2018, GBP/USD

Buy GBP now

Technical observation

On the weekly chart above, GBPUSD is on a upward trend, price retraced at a support zone (1.3830-1.3756) when the price was moving up, Currently price is within the zone and I expect bit to be rejected for bearish movements of price towards 1.4265,or even a breakout above it, I would advise you buy GBP now within the zone with your take profit at 1.4265 and stop loss around 1.3538.In case of a breakout above 1.4265,wait for a correction to it before you continue long.If there’s a clear breakout of price below 1.3756 with a big red candle, wait for a retracement to it before you enter short positions towards 1.3299.

Technical levels

Resistance levels

R1.1.4011

R2.1.422

R3.1.4578

Pivot

1.3861

Support levels

S1.1.3652

S2.1.3503

S3.1.3144

Trade signal

Buy GBP now with your take profit at 1.4265 and stop loss around 1.3538

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Imelda Maseno
Analyst of «FreshForex» company
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