we are bearish towards 1.3423 | 05 Octubre 2021

05 Octubre 2021, GBP/USD

we are bearish towards 1.3423

Technical observation

On the 4 hour chart above, price retraced to a resistance zone it established at 1.3612-1.3603 but could not break above it, it bounced within the zone and is currently trading with an increasing bearish bias, I expect a continuation of this bearish rally to the supportive level 1.3423 followed by either a clear breakout below it with a big red candle, or a bounce at it followed by a retracement to the zone I have mentioned above. My advice, if you picked short positions within the resistance zone 1.3612-1.3603 after a bounce, remain short with your take profit at 1.3423 and stop loss at 1.3672. you can only anticipate bullish movements above the zone 1.3612-1.3603.

Trade recommendation

Remain short with your take profit at 1.3423.

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