Remain flat | 26 March 2018
26 March 2018, GBP/USD
Technical observation
GBPUSD retraced at a support zone (1.3802-1.3703) twice while on an upward trend but was rejected at the mini resistance level 1.4344 as indicated by the dotted key line. Right now, price is rallying towards the line and I expect a breakout above it for a rise in price towards 1.4800 or even a breakout above 1.4800 for a further rise in price towards the upper resistance line 1.5747.I would advise you buy GBP after a correction to (1.3802-1.3703) towards 1.4800,In case price does not get corrected to the zone, remain flat and buy GBP after a break out above 1.4800 toward the key line 1.5747.
Technical levels
Resistance levels
R1.1.4265
R2.1.4397
R3.1.4705
Pivot
1.4098
Support levels
S1.1.3956
S2.1.378
S3.1.3472
Trade signal
Remain flat and wait for a correction to (1.3802-1.3703) or a breakout above 1.4800 to buy GBP.
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.
