Forex Technical Analysis: Trend potential – Rebuy gbp around 1.3860

GBPUSD – Flat
Rebuy gbp around 1.3860
Technical Observation:
Gbp is currently trading around 1.3860. This is a key weekly support line and unless it is broken to the lower side with a big red candle, I expect a momentum to the upper side with my take profit at 1.4640. On the way upwards, the key lines to look for include 1.4160, 1.4370 and 1.4640. On the other side, should the price break below 1.3860, then I expect a decline towards 1.3530 or even lower. As it is, I choose to focus only on buy position unless price close below 1.3860.
Technical Levels
Resistance levels
R1: 1.4275
R2: 1.4428
R3: 1.4728
Pivot
1.4125
Support Levels
S1: 1.3527
S2: 1.3827
S3: 1.3975
Trade Signal
Rebuy gbp around 1.3860 towards 1.4640.

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