GBPUSD – Flat
On 22nd of January this year, price broke above a resistance zone (1.3942-1.3914) and is still pretty much above it. Currently price is pulling back to the zone and were expecting a bounce from it to enter long position with our ultimate target at 1.4035 or even higher. On the 4H chart above this is a good buy zone and as long as price remains above it we expect a decline of price to it and a bounce from it to buy GBP with my take profit at 1.4035 and stop loss at 1.3885.Unless there’s a clear breakout below (1.3942-1.3914),we remain reluctant to short this pair.
Wait for a retracement to( 1.3942-1.3914) then buy GBP with your take profit at 1.4035 and stop loss at 1.3885
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