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Expecting a rally to 1.4239 .

Expecting a rally to 1.4239 . | 02 February 2022

02 February 2022, GBP/USD

Technical observation

GBP has been trading with an increasing bullish bias above the supportive zone 1.3435-1.3354 as I predicted at the beginning of the week, my expectation is a further rally to the upper side to the resistance level 1.4239 followed by either a clear breakout above it with a big green candle, or a bounce at it followed by another correction to the zone I have mentioned above. If you currently holding bullish positions with the pair above, I would advise that you remain long with your take profit at 1.4239 and stop loss at 1.3132. In case of a clear breakout above the level 1.4239 I anticipate further bullish movements towards 1.5535.

Trade recommendation

Remain long with your take profit at 1.4239.

Imelda Maseno
Analyst of «FreshForex» company
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