23 Enero 2018, GBP/USD
Technical observation
On 22nd of January this year, price broke above a resistance zone (1.3942-1.3914) and is still pretty much above it. Currently price is pulling back to the zone and were expecting a bounce from it to enter long position with our ultimate target at 1.4035 or even higher. On the 4H chart above this is a good buy zone and as long as price remains above it we expect a decline of price to it and a bounce from it to buy GBP with my take profit at 1.4035 and stop loss at 1.3885.Unless there’s a clear breakout below (1.3942-1.3914),we remain reluctant to short this pair.
Technical levels
Resistance levels
R1.1.4017
R2.1.4001
R3.1.3991
Pivot
1.3985
Support levels
S1.1.3975
S2.1.3969
S3.1.3953
Trade signal
Wait for a retracement to( 1.3942-1.3914) then buy GBP with your take profit at 1.4035 and stop loss at 1.3885