Remain long | 05 May 2021

05 May 2021, GBP/USD

Remain long

Technical observation

GBP retraced to the supportive zone but could not break below it; it bounced within the zone and is currently trading with an increasing bullish bias. I expect this upwards movement to continue to the resistance line 1.4615 and in case of a breakout above it with a big green candle, you can expect a further increase towards the upper key level 1.5891. My advice, if you went long within 1.3661-1.3599 after a bounce, remain long with your take profit at 1.4615 and stop loss at 1.3272. As it is on the weekly chart above, I can only recommend short positions below the zone 1.3661-1.3599 towards the key level 1.2565.

Trade recommendation

Remain long with your take profit at 1.4615.

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.