03 Abril 2018, GBP/USD
Technical observation
On the daily chart above, GBPUSD, broke above a key resistance line 1.3995 with a big green candle and engulfed. Price then retraced to the broken line twice before proceeding up, currently price is rising from the previous retracement and I expect possible bullish movement up to the key line 1.4273 or even a breakout above it for further bullish movement of price towards 1.4604.you had not bought GBP, you can buy it now with your take profit at 1.4273 and stop loss around 1.3903.if price breaks above 1.4273,continue long with GBP after a correction to it.only sell if price goes below the key line 1.3785.
Technical levels
Resistance levels
R1.1.4164
R2.1.4248
R3.1.4378
Pivot
1.4117
Support levels
S1.1.4034
S2.1.3987
S3.1.3857
Trade signal
Buy GBP now with your take profit a 1.4273 and stop loss around 1.3903.