bullish towards 1.2128 | 06 March 2023

06 March 2023, GBP/USD

bullish towards 1.2128

Technical observation

GBP is trading with an increasing bullish bias slightly above the supportive zone it established at 1.1828-1.1853 and I expect it to rally further up to the trend line indicated on the chart above followed by a rejection at it. If you are currently holding bullish positions with this pair, you can remain in the trade but not for long and pick your profits around 1.2128. In case the price clearly penetrates below the zone 1.1828-1.1853 with a big red candle, wait for a correction to the broken zone and a bounce within it before you pick short positions and on your way downwards the key level to look for are 1.1050 and 1.0363.

Trade recommendation

Remain long with your take profit at 1.2128.

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