We're flat | 31 March 2021

31 March 2021, GBP/USD

We're flat

Technical observation

GBP has been declining steadily towards a supportive zone 1.3599-1.3478, this bearish rally is a correction to the zone mentioned above and I expect a loss of price within it for a momentum to the upper side. My advice, remain flat and 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 1.3182. In case of breakout above the level 1.4615, I expect further bullish movement for price towards the upper resistance line 1.5891. However, in case of a break below the zone 1.3599-1.3478, you can expect price to surge to the lower side after a correction to the just broken zone.

Trade recommendation

Remain neutral.


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.
Imelda Maseno
Analyst of «FreshForex» company
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