Technical Analysis Based on Breakout – Buy GBP at 1.3785

GBPUSD – Flat

Buy GBP at 1.3785

Technical observation

GBPUSD is set above a strong support level 1.3758; this support has been rejected twice confirming uptrend veracity. Major support is seen at the level of 1.3758 because the trend is still showing strength above it .Currently price is rallying towards the zone and I expect a rejection at it to long GBP towards 1.3942, if price breaks below the line, wait for a retracement to it before you short GBP towards 1.3493, or even further below if price goes below 1.3493 towards 1.3310, the key lines to look for on this chart include 1.3942, 1.3493, and 1.3310.

Technical levels

Resistance levels

R1.1.3848

R2.1.3833

R3.1.3826

Pivot

1.3820

Support levels

S1.1.3811

S2.1.3804

S3.1.3790

Trade signal

Buy GBP at level 1.3758 with your take profit at 1.3942 and stop loss slightly below 1.3758

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