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Remain long

Remain long | 22 August 2023

22 August 2023, GBP/USD

Remain long

Technical observation

GBP retraced to a supportive zone 1.2669-1.2609 then bounced within it and since then the price has been trading with an increasing bullish bias, as long as the value of this pair is sustained above the zone I mentioned earlier, I expect a further surge to the upper side. In case you are already holding bullish positions with this pair, I recommend that you remain in the trade with your take profit at 1.3610 and stop-loss at 1.2419, if there is a clear rise above the level 1.3610 with a big green candle, wait for a pullback to this broken line and a rejection at it before you continue long towards the upper resistance level 1.4376.

Trade recommendation

Remain bullish with your take profit at 1.3610.

Imelda Maseno
Analyst of «FreshForex» company
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