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Buy a bounce from the immediate trendlines.

Buy a bounce from the immediate trendlines. | 02 Marzo 2021

02 Marzo 2021, GBP/USD

Technical Observation:

Yesterday, GBPUSD rallied to the lowerside but is currently around a supportive trendline. While the price is still held above the two trendlines, we are waiting for a clear rebound from it to pick a possible long term buy position with our target set at 1.41352. A break above this level will be a good place to consider more buy positions expecting a break above 1.42950. On the lowerside a break below the lower trendline will provide a good place to look for sell orders with our target at 1.37410.

Trade Recommendations:

Buy a bounce from the immediate trendlines.

Imelda Maseno
Analyst of «FreshForex» company
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