Technical Analysis Based on Breakout – Rebuy around(1.3845-1.3814)

GBPUSD – Flat

Rebuy around(1.3845-1.3814)

Technical observation

Recently GBP rose up to 1.4344 after a rejection from the support zone (1.3845-1.3814),currently the pair is correcting towards the zone and I expect a rejection at it long GBP with my take profit at 1.4344 and stop loss at 1.3744,unless (1.3845-1.3814),is clearly breached to the lower side with a big red candle I expect a possible rise in price and a breakout above 1.4344.If price gets rejected at the 4H support line 1.4702 I can still recommend you buy the pair at the line. On the daily chart above long positions seems more ideal and can be recommended while the price is still above (1.3845-1.3814).

Technical levels

Resistance levels

R1.1.4254

R2.1.4347

R3.1.4498

Pivot

1.4195

Support levels

S1.1.4103

S2.1.4044

S3.1.3892

Trade signal

Buy GBP at zone (1.3845-1.3814)with your take profit at 1.4344 and stop loss at 1.3744.

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