Remain flat | 09 April 2018

Technical observation

GBPUSD retraced at a support zone (1.3825-1.3695) twice while on upward trend, currently price is showing signs of rising towards a key line 1.4604 and I expect a rejection of it at the line, short term traders can short GBP after a rejection at the line with take profit 1.3825 and stop loss at 1.4964.You can also wait for the correction to the zone (1.3825-1.3695) to buy GBP with your take profit at 1.4604 and stop loss at 1.3297.In case of a breakout above 1.4604,wait for a correction to the line then continue long with GBP.Right now remain flat and wait for a correction to (1.3825-1.3695) or a rejection at 1.4604.

Technical levels

Resistance levels

R1.1.4142

R2.1.4195

R3.1.4336

Pivot

1.4054

Support levels

S1.1.4001

S2.1.3913

S3. .1.3772

Trade signal

Remain flat.