We're neutral | 26 March 2021

26 March 2021, GBP/USD

We're neutral

Technical observation

GBP is trading with an increasing bearish bias above the supportive zone 1.3599-1.3478; I expect a rejection of this bearish movement within the zone for a momentum to the upper side. My advice, remain flat temporarily and wait for a correction to the zone 1.3599-1.3478 and a rejection within it to buy GBP with your take profit at 1.4615 and stop loss at 1.3134. In case of a breakout above the line 1.4615 with a big green candle, wait for a pullback to it and a bounce confirming further bullish movement of price before you continue long with this pair towards the upper resistance level marked at 1.5891.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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