Remain flat | 23 April 2018
23 April 2018, GBP/USD
Technical observation
GBPUSD broke above a key resistance line 1.3286, price then retraced to the line but could not break below it and was rejected. Currently price is rallying above 1.3286 towards 1.4626 and I expect either a rejection of it around the line for bearish movement of price or a breakout above the line followed by a correction to it for bullish movement of price towards 1.5737.I would advise you remain flat and wait for either a breakout above 1.4626 or a rejection around 1.4626 to trade EUR.The lines to look for on your way down are 1.3286 and the key line 1.2687.Remain flat right now.
Technical levels
Resistance levels
R1.1.4252
R2.1.4503
R3.1.4879
Pivot
1.4127
Support levels
S1.1.3876
S2.1.375
S3.1.3374
Trade signal
Remain flat.
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.
