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Expecting a momentum towards 1.4615

Expecting a momentum towards 1.4615 | 23 August 2021

23 August 2021, GBP/USD

Technical observation

GBP declined steadily to the supportive zone it established at 1.3661-1.3599 but could not break below it, it bounced within the same zone and is currently trading with an increasing bullish bias. I expect this upwards movement to continue to the resistance level 1.4615 followed by a clear breakout above it with a big green candle for a further momentum to the upper side. My advice, if you bought GBP within the zone 1.3661-1.3599 after a bounce, remain long with your take profit at 1.4615 and stop loss at 1.3355. You can anticipate a momentum to the lower side in case of a clear breakout below the zone 1.3661-1.3599.

Trade recommendation

Remain long with your take profit at 1.4615.

Imelda Maseno
Analyst of «FreshForex» company
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