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We're long

We're long | 11 June 2018

11 June 2018, GBP/USD

We're long

Technical observation

The pair on the weekly chart above is on an upward trend. Price rose up above a resistance zone 1.3461-1.3319 then retraced to it before moving up, recently price pulled back to the zone then went up again before correcting to the it.Currently it is within it and I expect either a rejection of it from the zone for possible bullish momentum towards 1.4701 or a breakout below 1.3319 followed by a correction to it for possible bearish momentum. I would advise you long GBP/USD right now within the zone with your take profit at 1.4701 and stop loss around 1.2938.Short positions may only be recommended below 1.3319.

Technical levels

Resistance levels

R1.1.349

R2.1.357

R3.1.3748

Pivot

1.3392

Support levels

S1.1.3312

S2.1.3214

S3.1.3036

Trade signal

Long GBP/USD now with your take profit 1.4701 and stop loss around 1.2938.

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Imelda Maseno
Analyst of «FreshForex» company
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