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Wait | 31 August 2021

31 August 2021, GBP/USD

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Technical observation

GBP retraced to a supportive level it established at 1.3693 but could not break below it, price was contained above the line and it rose steadily to the resistance zone 1.3772-1.3766. If you bought GBP at the supportive level 1.3693 after a bounce at the level 1.3766 was the ideal place to pick your profits. If you are currently neutral with this pair, wait for a either a clear breakout above the zone 1.3772-1.3766 with a big green candle followed by a pullback and a bounce within the zone to buy GBP with your take profit at 1.3728, and in case of a correction to the level 1.3693, buy a bounce within it with your take profit at 1.3766 and stop loss at 1.3662.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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