Wait for a correction to rebuy | 16 March 2018

Technical observation

GBP is correcting to the key zone (1.3789-1.3756),I expect a rejection of it within or around the zone followed by bearish movement of price towards the 1.4360 or even a breakout above it and a further rise in price.Im waiting to long the pair within or around the zone towards 1.4360. In case of a breach below (1.3789-1.3756) with a big red candle, wait for a correction to the zone to confirm the price is on a bearish move before you short GBP towards the key line 1.3307 or even lower to 1.3057 if 1.3307 is breached. Right now wait for a correction to (1.3789-1.3756) to buy GBP with your take profit at 1.4360.

Technical levels

Resistance levels

R1.1.3934

R2.1.3965

R3.1.4042

Pivot

1.3894

Support levels

S1.1.3858

S2.1.3811

S3.1.3734

Trade signal

Wait for a correction to 1.3789-1.3756 to buy GBP with your take profit at 1.4360 and stop loss around 1.3629