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Place a pending sell limit at 1.3935

Place a pending sell limit at 1.3935 | 07 March 2018

07 March 2018, GBP/USD

Place a pending sell limit at 1.3935

Technical Observation:
The last day's candle is and indication that the momentum to the upper side could be diminishing. The best place to sell Gbp is around the previous day's highest high 1.3929, conservative traders can either remain flat, or place a pending sell limit order at 1.3935 with stop loss slightly above 1.3935 at take profit at 1.3755. As it is on the daily chart, I'd focus most on the anticipated sell position, however, scalpers could look for a long position with their take profit at 1.3935.
Technical Levels
Resistance levels
R1: 1.3895
R2: 1.3942
R3: 1.4053
Pivot
1.3831
Support Levels
S1: 1.3608
S2: 1.372
S3: 1.3784
Trade Signal
Place a pending sell limit at 1.3935

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Imelda Maseno
Analyst of «FreshForex» company
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