Wait for a pullback to the zone 1.3469-1.3412 | 03 November 2021

03 November 2021, GBP/USD

Wait for a pullback to the zone 1.3469-1.3412

Technical observation

Last week the pair on the chart above went down with a big a red candle and this week price continues to rally further downwards. This bearish movement is a correction to the supportive zone 1.3469-1.3412 and I expect price to continue to the same zone followed by a rejection within then a momentum to the upper side. My advice, pick long positions within the zone 1.3469-1.3412 after a bounce with your take profit at 1.4627 and stop loss1.3132, however, right now as at it is on the chart above, remaining neutral with this pair is ideal than picking any positions. I can only recommend short positions below the supportive zone 1.3469-1.3412.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus