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Remain flat

Remain flat | 26 April 2018

26 April 2018, GBP/USD

Technical observation

Recently,GBP has been declining steadily towards the zone 1.3787-1.3754,I expect a possible rejection of it within or around the zone for bullish movement of price towards the resistance line 1.4336 and a possible breakout above it for a further rise in price towards the weekly resistance line 1.4701..Right now remain flat and wait for a close within the zone to long GBP towards 1.4336.In case of a clear breach below 1.3787-1.3754 with a big red candle, wait for a correction to the broken zone then short GBP on the next correction towards 1.3302 just to be sure price is on a bearish a move.

Technical levels

Resistance levels

R1.1.4056

R2.1.411

R3.1.4192

Pivot: 1.4033

Support levels

S1.1.3974

S2.1.3947

S3.1.3865

Trade signal

Remain flat

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Imelda Maseno
Analyst of «FreshForex» company
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