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bullish towards 1.4615

bullish towards 1.4615 | 01 September 2021

01 September 2021, GBP/USD

bullish towards 1.4615

Technical observation

Last week the value of the pair on the chart above rose after a bounce within the supportive zone 1.3661-1.3599 and as long as this pair is sustained above this zone, I expect an increase in price towards the resistance level 1.4615, on the flip side, if price clearly penetrates below the supportive zone mentioned above with a big red candle, I anticipate a surge to the lower level 1.2565 after a correction to the just broken zone and a bounce within it. My advice, if you are currently bullish with this pair, remain in the trade with your take profit at 1.4615 and stop loss at 1.3326. If you are flat, wait for another retracement to buy GBP.

Trade recommendation

Remain long with your take profit at 1.4615.

Imelda Maseno
Analyst of «FreshForex» company
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