Wait for a buy signal | 27 April 2018

27 April 2018, GBP/USD

Wait for a buy signal

Technical observation

After breaking up above a resistance zone 1.3787-1.3754, GBPUSD used this zone as a support and has tested it thrice .Currently price is approaching this zone and a buy opportunity could show up soon. As long as price is above the support zone 1.3787-1.3754, price is expected to have a bullish momentum towards 1.4336 and even breakout above it to rise further. You could wait for the retracement to the zone then buy GBP after a rebound from it with your take profit at 1.4336.If price breaks below 1.3787-1.3754 or gaps below it price could rally downwards steadily towards the support line 1.3302.

Technical levels

Resistance levels

R1.1.4056

R2.1.411

R3.1.4192

Pivot: 1.4035

Support levels

S1.1.3974

S2.1.3947

S3.1.3865

Trade signal

Wait for a buy signal to buy GBP with your take profit at 1.4336 and stop loss around 1.3617

FreshForex cancels commissions!

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Login
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .