Look for a short position now towards 1.3998 | 13 April 2018
13 April 2018, GBP/USD
Technical Observation:
GBP is currently trading above its daily pivot line but below a key resistance line 1.4240. Despite the previous surge to the upper side, unless the price clearly breaks above the 1.4240 with a big green candle, this is a clear sellers zone. and therefore, I choose to hunt for potential sell orders here with my first take profit at 1.3998 and the next take profit at 1.3805. If you're a bit scared to short now, you could wait for a break below the supportive trend line, then a pullback to the same trend line then sell, as indicated on the chart above. Technical Levels Resistance levels R1: 1.4271
R2; 1.431
R3: 1.4413 Pivot 1.4208 Support Levels S1: 1.4004
S2: 1.4106
S3: 1.4169 Trade Signal Look for a short position now towards 1.3998
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.
