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We're flat

We're flat | 16 February 2021

16 February 2021, GBP/USD

We're flat

Technical observation

Since it bounced at the line 1.3746, GBP has been rising steadily and is currently trading below the line 1.3910. If you bought GBP at 1.3746 after a bounce, at the line 1.3910 is the ideal place to pick your profits. However, if you are currently flat with this pair, remain so temporarily and wait for another correction to the line 1.3746 and a rejection at it to buy GBP with your take profit at 1.3910 and stop loss at 1.3659. As it is on the chart above, as long as price is contained above the line 1.746, I can only recommend bullish positions for this pair. Bearish movements can only be recommended below 1.3746.

Trade recommendation

Remain flat temporarily.

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Imelda Maseno
Analyst of «FreshForex» company
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