Wait for a pullback to (1.3718-1.3580) to buy GBP. | 02 April 2018

02 April 2018, GBP/USD

Wait for a pullback to (1.3718-1.3580) to buy GBP.

Technical observation

GBPUSD broke above a resistance zone(1.3718-1.3580),It then retraced to the zone twice before moving up. Currently price is rallying above the zone and I expect a correction to it and a rejection for bullish movement of price towards 1.4604,you can remain flat now temporarily and wait for the correction to the zone to buy GBP with your take profit at 1.4604 and stop loss around 1.3264,in case of a breakout above 1.4604,continue long with GBP after a correction to it.If there’s a clear breakout below (1.3718-1.3580) with a big red candle, wait for a correction to it before you enter short position.

Technical levels

Resistance levels

R1.1.4175

R2.1.4327

R3.1.4561

Pivot

1.4093

Support levels

S1.1.3941

S2.1.3859

S3.1.3624

Trade signal

Wait for a pullback to (1.3718-1.3580) to buy GBP.

FreshForex cancels commissions!

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus