Remain long | 01 Marzo 2022

01 Marzo 2022, GBP/USD

Remain long

Technical observation

Last week GBP retraced to the supportive zone it established at 1.3349-1.3298 but it could not break below it, instead, price bounced above the zone and yesterday price opened bullish. I expect a continuation of this upwards movement to the resistance level 1.4239 followed by either a clear breakout above it with a big green candle or a bounce at it followed by another correction to the zone mentioned above. If you picked long positions within the zone 1.3349-1.3298 after a bounce, remain in the trade with your take profit at 1.4239 and stop loss at 1.2916. As it is on the weekly chart above, bearish positions can only be recommended below the zone 1.3349-1.3298.

Trade recommendation

Remain long with your take profit at 1.4239.

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.