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We're bullish towards 1.4615.

We're bullish towards 1.4615. | 19 May 2021

19 May 2021, GBP/USD

We're bullish towards 1.4615.

Technical observation

GBP is rising steadily above the supportive zone 1.3599-1.3661, I expect this upwards movement to continue to the resistance line 1.4615 followed by either a clear breakout above it with a big green candle, or, a bounce at it followed by a correction to the zone mentioned above. If you picked long positions within 1.3599-1.3661, remain bullish with your take profit at 1.4615 and stop loss at 1.3269. In case you are currently neutral with this pair, remain so and wait for either a clear break above the level 1.4615, or, another correction to the zone 1.3599-1.3661 to buy GBP. I can only recommend short positions below the zone 1.3599-1.3661.

Trade recommendation

Remain long with your take profit at 1.4615.

Imelda Maseno
Analyst of «FreshForex» company
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