Wait for a correction to 1.4101 | 22 March 2018

22 March 2018, GBP/USD

Wait for a correction to 1.4101

Technical observation

GBPUSD broke up above a key resistance line 1.4101 yesterday with a big red candle, currently the price is still moving up and I expect it to be corrected to 1.4101 followed by a rejection and a rise in price towards 1.4344.I would advise you wait for a correction of price to the line 1.4101 then buy GBP after a rejection of it within or a round the zone with your take profit at 1.4344 and stop loss around 1.3997,if price goes above 1.4344,wait for a correction to it then continue long with GBP.Short positions can only be advised in case there’s a clear breach of price below (1.3792-1.3761)with a big red candle and a correction to it.

Technical levels

Resistance levels

R1.1.4105

R2.1.4185

R3.1.4361

Pivot

1.4011

Support levels

S1.1.3929

S2.1.3833

S3.1.3657

Trade signal

Wait for a correction to 1.4101 to buy GBP with your take profit at 1.4344 and stop loss around 1.3997

FreshForex cancels commissions!

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .