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Remain flat

Remain flat | 26 March 2018

26 March 2018, GBP/USD

Remain flat

Technical observation

GBPUSD retraced at a support zone (1.3802-1.3703) twice while on an upward trend but was rejected at the mini resistance level 1.4344 as indicated by the dotted key line. Right now, price is rallying towards the line and I expect a breakout above it for a rise in price towards 1.4800 or even a breakout above 1.4800 for a further rise in price towards the upper resistance line 1.5747.I would advise you buy GBP after a correction to (1.3802-1.3703) towards 1.4800,In case price does not get corrected to the zone, remain flat and buy GBP after a break out above 1.4800 toward the key line 1.5747.

Technical levels

Resistance levels

R1.1.4265

R2.1.4397

R3.1.4705

Pivot

1.4098

Support levels

S1.1.3956

S2.1.378

S3.1.3472

Trade signal

Remain flat and wait for a correction to (1.3802-1.3703) or a breakout above 1.4800 to buy GBP.

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Imelda Maseno
Analyst of «FreshForex» company
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