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Remain long with your take profit at 1.3986.

Remain long with your take profit at 1.3986. | 21 October 2021

21 October 2021, GBP/USD

Remain long with your take profit at 1.3986.

Technical observation

GBP retraced to a supportive zone it established at 1.3453-1.3419 but could not break below it, price bounced within the zone and for several days now it has been trading with an increasing bullish bias. I expect a continuation of this bullish movement to the resistance level 1.3986 followed by either a bounce at it or a clear penetration above it with a big green candle. If you are currently bullish with this pair, remain long and pick your profits at the resistance line 1.3986, however, if you are neutral with this pair, remain so and wait for either a clear breakout above the level 1.3986 or another correction to the zone 1.3453-1.3419 to buy GBP.

Trade recommendation

Remain long with your take profit at 1.3986.

Imelda Maseno
Analyst of «FreshForex» company
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