Forex Technical Analysis: Trend potential – Long GBP now

GBPUSD – Flat

Long GBP now

Technical observation

GBP/USD breached above a resistance zone 1.3317-1.3202 with a big green candle and corrected to it twice before moving up. Recently price pulled back to the zone again but could not penetrate below it, it was rejected within the zone and is currently showing signs of bullish momentum towards 1.4615.I expect a possible rise in price towards 1.4615 and a breakout above it followed by a further rise towards the resistance 1.5726.I’m looking to long the pair now within the zone with my ideal target at 1.4615 and stop loss around 1.2775.Only long positions look ideal and can be recommended on the chart above.

Technical levels

Resistance levels

R1.1.3366

R2.1.3495

R3.1.3756

Pivot

1.2324

Support levels

S1.1.3105

S2.1.2973

S3.1.2712

Trade signal

Long GBP now with your take profit at 1.4615 and stop loss around 1.2775.

Do you know against which currencies GBP is the most profitable?

Long GBP now

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You may check other analytical reviews on FreshForex website. Source: freshforex.com.

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