Forex Technical Analysis: Trend potential – Long GBP/USD now

GBPUSD – Flat

Technical observation

GBP/USD broke above a resistance zone1.3441-1.3306 with a big green candle, price the retraced to it before moving up towards the resistance line 1.4701.it was rejected before it could reach it and so it pulled back to the support zone and is currently within it.I would advise you buy GBP/USD now with your take profit at 1.4701 and stop loss around 1.2861.In case price breaks above your take profit, wait for a correction to it then continue long with GBP.Only long positions look ideal on the daily chat above and can be recommended. Short positions can be recommended below the zone 1.3441-1.3306.

Technical levels

Resistance levels

R1.1.3428

R2.1.356

R3.1.376

Pivot

1.336

Support levels

S1.1.3228

S2.1.316

S3.1.296

Trade signal

Buy GBP/USD now, with your take profit at 1.4701 and stop loss around 1.2861.

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