Wait for a breakout above 1.4014 | 21 March 2018

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