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Buy GBP within 1.3599-1.3478

Buy GBP within 1.3599-1.3478 | 10 March 2021

10 March 2021, GBP/USD

Buy GBP within 1.3599-1.3478

Technical observation

On the weekly chart above price is trading above a supportive zone 1.3599-1.3478, this week it has been increasing to the upper side, however, I expect a rally to the zone mentioned above and a rejection within it to pick long positions . My advice, wait for a correction to the zone 1.3599-1.3478 to buy GBP with your take profit at 1.4615 and stop loss at 1.2913. Should there be a clear break above the line 1.4615 with a big green candle, expect an increase in the value of this pair towards the upper resistance line 1.5891.

Trade recommendation

Wait for a correction to 1.3599-1.3478 to buy GBP.

Imelda Maseno
Analyst of «FreshForex» company
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