Buy GBP now | 05 March 2018
05 March 2018, GBP/USD
Technical observation
On the weekly chart above, GBPUSD is on a upward trend, price retraced at a support zone (1.3830-1.3756) when the price was moving up, Currently price is within the zone and I expect bit to be rejected for bearish movements of price towards 1.4265,or even a breakout above it, I would advise you buy GBP now within the zone with your take profit at 1.4265 and stop loss around 1.3538.In case of a breakout above 1.4265,wait for a correction to it before you continue long.If there’s a clear breakout of price below 1.3756 with a big red candle, wait for a retracement to it before you enter short positions towards 1.3299.
Technical levels
Resistance levels
R1.1.4011
R2.1.422
R3.1.4578
Pivot
1.3861
Support levels
S1.1.3652
S2.1.3503
S3.1.3144
Trade signal
Buy GBP now with your take profit at 1.4265 and stop loss around 1.3538
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
