Long towards 1.4269 | 06 March 2018
06 March 2018, GBP/USD
Technical Observation:
On Friday last week, Gbp got supported by the descending trendline, and is still being held above it. I expect a surge to the upperside with my first line to book profits being 1.4065 and the next at 1.4269. If the last take profit line is broken, then further momentum towards 1.45 or even higher is expected. If you're not long already, you could wait for another pullback to the lower supportive trendline to buy GBP. Or short in case the price breaks below this trendline.
Technical Levels
Resistance levels
R1: 1.3895
R2: 1.3942
R3: 1.4053
Pivot
1.3831
Support Levels
S1: 1.3608
S2: 1.372
R3: 1.3784
Trade Signal
Long towards 1.4269
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.
