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Remain bullish

Remain bullish | 09 November 2023

09 November 2023, GBP/USD

Remain bullish

Technical observation

GBP retraced to a lower trend line as indicated above then bounced at it and since then it has been trading with an increasing bullish bias, today I expect the value of GBP to rally further upwards and as it is on the chart above, I recommend that you remain bullish with your take profit at 1.3131 and stop-loss at 1.1549, if there is a clear breach above the level 1.3131, wait for a pullback and a bounce at the broken line before you continue long towards the level 1.4236, contrary in case of a penetration below the level 1.2068, short this pair towards the supportive levels 1.0932 and 1.0364.

Trade recommendation

Remain bullish with your take profit at 1.3131.

Imelda Maseno
Analyst of «FreshForex» company
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