Forex Technical Analysis: Trend potential – Buy GBP now

GBPUSD – Flat

Technical observation

The pair on the daily chart above was rejected yesterday around the support zone (1.3941-1.3803) when price could not reach the zone or even penetrate it.I expect possible bullish movement of price towards 1.4263or even a breakout above it for further increase in price, my advice, buy the pair now with your take profit at 1.4263 and stop loss around 1.3597,in case there’s a breakout above 1.4263,wait for a retracement to it before you continue long, if there’s a clear breach of price below (1.3941-1.3803) wait for a correction of price within or around the zone before you enter short positions with your target around 1.3304.

Technical levels

Resistance levels

R1.1.412

R2.1.4206

R3.1.4353

Pivot

1.4067

Support levels

S1.1.3973

S2.1.3911

S3.1.3764

Trade signal

Re buy GBPUSD now with your take profit at 1.4263 and stop loss around 1.3597.

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