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we are long

we are long | 14 November 2023

14 November 2023, GBP/USD

we are long

Technical observation

Since it bounced at a lower trend line as indicated on the chart above, GBP has been trading with an increasing bullish bias and today I expect it to plummet further to the upper side. In case you bought this pair at the level 1.2064, you can hold on to bullish positions with your take profit at 1.3131 and stop-loss at 1.1545. If there is a penetration above the level 1.3131, wait for a pullback to this line before you continue long towards 1.4236 or higher, on the other hand, in case of a breach below the zone 1.1865-1.1826, I anticipate possible bearish movements of price towards the supportive level 1.0364.

Trade recommendation

Remain bullish with your take profit at 1.3131.

Imelda Maseno
Analyst of «FreshForex» company
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