Remain neutral. | 16 Agosto 2022

16 Agosto 2022, GBP/USD

Technical observation

GBP declined to the supportive level 1.1758 but could not break below it; instead it bounced at the same line and for some time now price has been trading with an increasing bullish bias. This upwards movement is a retracement to the resistance zone 1.2666-1.2623 and I expect a rise in price to the same zone followed by a bounce within it to pick short positions with my take profit at 1.1758 and stop-loss at 1.2841, if price clearly breaks below the level 1.1758, I expect it to decline further towards the supportive level 1.1407. As it is on the daily chart above, I can only recommend bullish positions in case of a clear break above the zone 1.2666-1.2623.

Trade recommendation

Remain neutral.

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