Sell GBP within 1.3203-1.3183 | 21 Marzo 2022

21 Marzo 2022, GBP/USD

Sell GBP within 1.3203-1.3183

Technical observation

GBP pulled back to a resistance zone it established at 1.3203-1.3183 but could not break above it and as long as it remains below the same zone, I expect nothing but bearish movements of price. My advice, pick short positions within the zone mentioned above with your take profit at 1.2688 and stop-loss at 1.3355. On your way downwards the key levels to look for include, 1.2688, 1.2099 and the lower supportive level 1.1436. In case of a clear breakout above the zone 1.3203-1.3183 with a big green candle, wait for a correction and rejection within it confirming a possible surge to the upper side before you pick long positions towards 1.3968.

Trade recommendation

Sell GBP within 1.3203-1.3183 with your take profit at 1.2688.

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.