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Looking to sell within within 1.3758-1.3749

Looking to sell within within 1.3758-1.3749 | 28 October 2021

28 October 2021, GBP/USD

Looking to sell within within 1.3758-1.3749

Technical observation

Since it penetrated below the supportive zone 1.3758-1.3749 with a big red candle, GBP rallied to the lower side but not for long it then pulled back to the same zone and currently price is trading with an increasing bullish bias below the zone. I expect a continuation of this bullish movement to the zone I have mentioned above followed by a rejection within it to short GBP with my take profit at 1.3546 and stop loss at 1.3805. You can anticipate a further momentum to the lower supportive level 1.3144 in case of a clear breakout below the level 1.3546 with a big red candle. As it is on the chart above, I can only recommend bullish positions above the zone 1.3758-1.3749.

Trade recommendation

Sell GBP within 1.3758-1.3749 with your take profit at 1.3546.

Imelda Maseno
Analyst of «FreshForex» company
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