16 March 2018, GBP/USD
Technical observation
GBP is correcting to the key zone (1.3789-1.3756),I expect a rejection of it within or around the zone followed by bearish movement of price towards the 1.4360 or even a breakout above it and a further rise in price.Im waiting to long the pair within or around the zone towards 1.4360. In case of a breach below (1.3789-1.3756) with a big red candle, wait for a correction to the zone to confirm the price is on a bearish move before you short GBP towards the key line 1.3307 or even lower to 1.3057 if 1.3307 is breached. Right now wait for a correction to (1.3789-1.3756) to buy GBP with your take profit at 1.4360.
Technical levels
Resistance levels
R1.1.3934
R2.1.3965
R3.1.4042
Pivot
1.3894
Support levels
S1.1.3858
S2.1.3811
S3.1.3734
Trade signal
Wait for a correction to 1.3789-1.3756 to buy GBP with your take profit at 1.4360 and stop loss around 1.3629
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