Remain flat | 05 April 2018

05 April 2018, GBP/USD

Remain flat

Technical observation

GBPUSD is showing signs of rising, previously the broke above a key line 1.3997 then retraced to it before rising up. Currently the pair is rallying above it and I expect bullish movements towards 1.4273.right now I expect a correction to 1.3997 and a rejection of price within or around it to buy GBP.in case price does not get corrected to 1.3997, wait for a breakout above 1.4273 and a correction to it then buy GBP and if it gets corrected, wait for a rejection before you buy GBP.Right now I would advise you remain flat and wait for a either a correction or a rejection. Sell GBP if price breaks below (1.3785-1.3753).

Technical levels

Resistance levels

R1.1.4164

R2.1.4248

R3.1.4378

Pivot

1.4121

Support levels

S1.1.4034

S2.1.3987

S3.1.3857

Trade signal

Remain flat.

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Imelda Maseno
Analyst of «FreshForex» company
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