Buy a bounce from the immediate trendlines. | 02 March 2021
02 March 2021, GBP/USD
Technical Observation:
Yesterday, GBPUSD rallied to the lowerside but is currently around a supportive trendline. While the price is still held above the two trendlines, we are waiting for a clear rebound from it to pick a possible long term buy position with our target set at 1.41352. A break above this level will be a good place to consider more buy positions expecting a break above 1.42950. On the lowerside a break below the lower trendline will provide a good place to look for sell orders with our target at 1.37410.
Trade Recommendations:
Buy a bounce from the immediate trendlines.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
