Wait for a retracement | 05 Agosto 2020

05 Agosto 2020, GBP/USD

Wait for a retracement

Technical observation

GBP is rallying with an increasing bullish bias above a supportive zone it established around 1.2613-1.2690, however, I expect a loss of this bullish momentum followed by a pullback to the zone mentioned above and rejection within it to pick long positions. My advice, wait for a retracement to the zone 1.2613-1.2690 and bounce within it to buy GBP with your take profit at 1.3411 and stop loss at 1.2325. On your way upwards the key levels to look for are; 1.3411, 1.4505 and 1.5737. On the chart above as long as price is contained above the zone 1.2613-1.2630, you can only expect upwards momentum of GBP.

Trade recommendation

Wait for retracement to the zone 1.2613-1.2690 to buy GBP.

Imelda Maseno
Analyst of «FreshForex» company
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.
manager photo manager photo
Online-support
Nos complacerá contestar cualquier pregunta que pueda tener

Escribir

Get bonus