Forex Technical Analysis: Trend potential – Long GBPUSD around 1.3759

GBPUSD – Flat

Long GBPUSD around 1.3759

Technical observation

Recently,GBPUSD broke above a resistance line 1.3759rallied above it but has just pulled back to it.This is a potential buy place and as long as it is not breached to the lower side with a big red candIe I expect a possible bullish momentum with an ultimate target at 1.4940.The idea is to buy this pair around 1.3759 with your stop loss below 1.3759.On the other side should the price break below 1.3759 with a big red candle, then I expect a decline of it towards 1.2725 or even lower, and I would advise you wait for a correction before you enter short position.

Technical levels

Resistance levels

R1.1.4062

R2.1.43

R3.1.4687

Pivot

1.3913

Support levels

S1.1.3676

S2.1.3527

S3.1.314

Trade signal

Buy this pair around 1.3759 with your stop loss below 1.3759 and take profit at 1.4940

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