15 Marzo 2018, GBP/USD
Technical observation
The pair on the daily chart above retraced at a support zone (1.3789-1.3756) four times previously and I still expect a correction to the zone and an increase in price towards the line 1.4260.In case of a breakout above 1.4260,I expect a further rise in price towards 1.4800.Im waiting for the pullback to (1.3789-1.3756)to rebuy the pair with my take profit at 1.4260 and stop loss around 1.3629,if there’s a clear breakout above 1.4260,I will wait for the correction and rejection to it then buy the pair. In case 1.3756 is clearly breached below with a big red candle, wait for a correction to it to confirm the price is moving down then sell GBP.
Technical levels
Resistance levels
R1.1.3934
R2.1.3965
R3.1.4042
Pivot
1.3892
Support levels
S1.1.3858
S2.1.3811
S3.1.3734
Trade signal
Wait for a retracement to (1.3789-1.3756) to buy GBP with your take profit at 1.4260 and stop loss around 1.3629