09 января 2018, GBP/USD
Technical observation
In the previous hours GBP has been has been trading on an upward trend. Recently price retraced twice at a key zone(1.3505-1.3494) and is currently rallying towards a key line 1.3604, I expect a rejection of the price at the key line to retrace to the key zone then enter into long position with my take profit at 1.3604and my stop loss slightly below 1.3494).in case price above the key line, wait for a retracement to the line to long GBP towards 1.3635 but in case price breaks below the key zone, wait for a retracement to the key zone to confirm the price is on a bearish trend then short GBP.
Technical levels
R1.1.3586
R2.1.359
R3.1.3602
Pivot
1.3579
Support levels
S1.1.3574
S2.1.3566
S3.1.3554
Trade signal
Wait for a retracement to the key zone (1.3505-1.3494) then buy GBP with your take profit 1.3604 and stop loss slightly below 1.3494
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