Buy GBPUSD | 29 March 2018

29 March 2018, GBP/USD

Buy GBPUSD

Technical observation

On the 4H chart above,GBP broke up a above a resistance zone (1.4091-1.4065) with a big green candle then went up before correcting to the zone twice. Currently the pair is within the zone and I expect a rejection of it within the zone for bullish movement of price towards the key line 1.4340.You can buy GBP now with your take profit at 1.4340 and stop loss around 1.3988.Remain long in case of a breakout above 1.4340.If price breaks down below (1.4091-1.4065) with a big red candle, Wait for a correction to it to confirm price is on a bearish move before you enter short position towards 1.3988.

Technical levels

Resistance levels

R1.1.4166

R2.1.4172

R3.1.4181

Pivot

1.4163

Support levels

S1.1.4157

S2.1.4153

S3.1.4144

Trade signal

Buy GBP now with your take profit at 1.4340 and stop loss round 1.3988.

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Imelda Maseno
Analyst of «FreshForex» company
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