22 февраля 2018, GBP/USD
Technical observation
After days of declining, GBPUSD is now approaching the key support zone (1.3841-1.3803),i expect a rejection of price within or around the zone for bullish movement of price towards 1.4363 or even further up if price breaks above 1.4363 and gets corrected to it, right now I’m waiting for a rejection of price around(1.3841-1.3803) to rebuy GBPUSD with my take profit at 1.4363 and stop loss around 1.3597.If it breaks above 1.4363 then I’ll wait for a correction to it before I continue long.In case there’s a breakout below the zone, wait for pullback to the zone to confirm bearish movement of price before you enter short positions towards 1.3304.
Technical levels
Resistance levels
R1.1.412
R2.1.4206
R3.1.4353
Pivot
1.4065
Support levels
S1.1.3973
S2.1.3911
S3.1.3764
Trade signal
Buy GBPUSD around (1.3841-1.3803)with your take profit at 1.4263 and stop loss around 1.3597.
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