21 Marzo 2018, GBP/USD
Technical observation
GBPUSD retraced at a support zone (1.3792-1.3761) while o an upward trend,Currently,the pair is racing towards a resistance line 1.4101 which is a good sell place for short term traders.Im expecting a breakout above 1.4101 for bullish movement of price towards 1.4344.Short term traders can sell GBP around 1.4101 with your take profit within (1.3792-1.3761) and your stop loss around 1.4192.In case of a breakout above 1.4101,wait for a pullback to the zone to long GBP towards 1.4344 and stop loss around 1.4014.if price breaks below (1.3792-1.3761)wait for a retracement to the zone to confirm bearish movement before you sell GBP.
Technical levels
Resistance levels
R1.1.4105
R2.1.4185
R3.1.4361
Pivot
1.4009
Support levels
S1.1.3929
S2.1.3833
S3.1.3657
Trade signal
Wait for a breakout above 1.4014