Forex Technical Analysis: Trend potential – Long GBP/USD now

GBPUSD – Flat

Long GBP/USD now

Technical observation

AfterGBP/USD is rallying within the supportive zone 1.3214-1.3201.Unless there’s a clear breach to the lower side with a big red candle, I expect a momentum to the upper side, as it is on the 4Hour chart above, I highly recommend buying the pair now within the zone with your take profit at 1.3437 and stop loss slightly below 1.3201.Should the price break above 1.3201, then I suggest waiting for a correction to the just broken line to continue long with GBP towards 1.3597.Right now only long positions look ideal on the 4Hour chart above and can be advised. Short positions may only be ideal below 1.3021 towards 1.3055.

Technical levels

Resistance levels

R1.1.3305

R2.1.3311

R3.1.3327

Pivot

1.3295

Support levels

S1.1.3289

S2.1.3278

S3.1.3262

Trade signal

Long GBP/USD now with your take profit at 1.3437 and stop loss slightly below 1.3201.

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

Long GBP/USD now

More trading assets here…

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