20 февраля 2018, GBP/USD
Technical observation
GBPUSD is currently trading with an increasing bullish momentum, price retraced twice at a support zone (1.3786-1.3738),currently it is rallying above it and I expect a correction of it to the zone (1.3786-1.3738) and a possible rejection of it at the Zone to re buy GBPUSD with my take profit at 1.4363 and stop loss around 1.3592.In case there’s a clear breakout of price below the (1.3786-1.3738) with a big red candle,wait for a retracement to the broken zone before you enter short positions with your target around 1.3304 or even lower to 1.3058 if 1.3304 is breached.
Technical levels
Resistance levels
R1.1.412
R2.1.4206
R3.1.4353
Pivot
1.4060
Support levels
S1.1.3973
S2.1.3911
S3.1.3764
Trade signal
Wait for a correction to (1.3786-1.3738) then re buy GBPUSD with your take profit at 1.4363 and stop loss around 1.3592.
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