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Expecting a rally to 1.4631

Expecting a rally to 1.4631 | 22 February 2022

22 February 2022, GBP/USD

Expecting a rally to 1.4631

Technical observation

On the chart above GBP retraced to the supportive zone it established at 1.3435-1.3354 but it could not break below it, price bounced within the zone and since then it has been trading with an increasing bullish bias, this week I expect a continuation of this upwards movement towards the resistance level 1.4631 followed by either a clear breakout above it with a big green candle or a rejection at followed by another correction to the zone mentioned above. If you are currently holding bullish positions with the pair above I would advise that you remain in the trade with your take profit at 1.4631 and stop loss at 1.3053.

Trade recommendation

Remain long with your take profit at 1.4631.

Imelda Maseno
Analyst of «FreshForex» company
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