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Remain flat

Remain flat | 10 April 2018

10 April 2018, GBP/USD

Remain flat

Technical observation

On the daily chart above,GBPUSD broke above a resistance zone (1.3999-1.3965) it then retraced to the zone twice before moving up, Currently the price is rallying above it and I expect either a pull back to the zone or a rise in in price towards the key line 1.4286 and a breakout above it for bullish movements of price.I would advise you remain flat and wait for either a correction to the zone or a breakout above 1.4286 to buy GBP.In case of a breakout below (1.3999-1.3965),wait for a correction to it to confirm price is on a bearish momentum before you enter short position with GBP towards the key line 1.3754.

Technical levels

Resistance levels

R1.1.4136

R2.1.4183

R3.1.4307

Pivot

107.06

Support levels

S1.1.4012

S2.1.3936

S3.1.3812

Trade signal

Remain flat.

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Imelda Maseno
Analyst of «FreshForex» company
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