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Expecting a surge to the level 1.3157

Expecting a surge to the level 1.3157 | 10 February 2022

10 February 2022, GBP/USD

Technical observation

On the chart above the value of the previous candle declined as I had predicted and today I expect it to surge further downwards. If you sold GBP within the zone 1.3610-1.3582, remain short with your take profit at 1.3157 and stop loss at 1.3744. Should there be a clear breakout below the supportive level 1.3157 with a big red candle, I expect the value of this pair to plummet further towards the level 1.2688. If GBP is not contained below the zone 1.3610-1.3582 but clearly breaks above it with a big green candle, wait for a retracement to the broken zone then buy a bounce within it with your take profit at 1.3966.

Trade recommendation

Remain short with your take profit at 1.3157.

Imelda Maseno
Analyst of «FreshForex» company
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