Remain bearish with your take profit at 1.0368. | 20 Marzo 2023

20 Marzo 2023, GBP/USD

Technical observation

Just like EUR, GBP also retraced to a zone 1.2401-1.2308 and it was sustained below it. Right now the value of this pair is trading with an increasing bearish bias and I expect a possible further surge to the lower side. If you are currently holding short positions with GBP, I recommend that you remain in the trade with your take profit at 1.0368 and stop-loss at 1.2926. In case of a clear penetration below the level 1.0368, I expect the value of GBP to descend after a pullback to the broken line, on the other, in case of a clear break above the zone 1.2401-1.2308, I expect the price to ascend towards the levels 1.4236 and 1.6725.

Trade recommendation

Remain bearish with your take profit at 1.0368.

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.