GBPUSD – Flat Technical Observation On April 16th this year, Gbp broke out above a key weekly resistance line 1.2719, retraced back to it seven weeks later but failed to breakout below it. I went long following the second pullback to the same line and is still holding. In this week, I expect a spike towards the next weekly resistance line 1.4673. If 1.4673 is broken, then the price may continue upwards towards 1.4673 On the weekly chart above, bulls are completely in dominance and may push the price further upwards towards . My advice, wait for a minor pullback towards 1.3023 to buy Gbp towards 1.4673. If you’re skeptic about this position, you could wait and buy Gbp above 1.3306 towards 1.4673 Technical levels: Resistance levels R1: 1.2983 R2: 1.3082 R3: 1.324 Pivot 1.2925 Support Levels S1: 1.2609 S2: 1.2767 S3: 1.2825 Trade Signal Wait for a pullback towards 1.3023 then long Gbp towards 1.4673
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