24 января 2018, GBP/USD
Technical observation
On 22nd of January this year,GBP broke above a resistance line 1.3944 then retraced to it on 23rd of January ,yesterday, price rose steadily towards 1.4055 and I expect it to be corrected to 1.3944 to buy GBP towards 1.4085,incase price goes below the support line 1.3944 then I would advise you wait for a retracement to it to confirm the price is on a bearish move then short the pair towards 1.3854 or even further lower to 1.13760,if 1.3760 gets broken too then continue short to 1.3503.Currently only long position looks more ideal after a retracement of price to 1.3944.The key lines to look for on this chart are 1.3944,1.3854,1.3760 and 1.3503.
Technical levels
Resistance levels
R1.1.4017
R2.1.4001
R3.1.3991
Pivot
1.3987
Support levels
S1.1.3975
S2.1.3969
S3.1.3953
Trade signal
Wait for retracement of price to 1.3944 then buy GBP towards 1.4085 and your stop loss at 1.3914.
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