Wait | 16 August 2021

16 August 2021, GBP/USD

Wait

Technical observation

GBP is retracing to a supportive zone it established at 1.3661-1.3599, I expect a bounce within this zone for a rally to the upper side to the key level 1.4615, my advice, remain flat and wait for a correction to the zone 1.3661-1.3599 to buy GBP with your take profit at 1.4615 and stop loss at 1.3344. If price breaks below the zone 1.3661-1.3599 with a big red candle, I expect a possible surge to the supportive level 1.2565 or even to the lower level 1.1518.However, in case there is a clear breakout above the level 1.4615 with a big green candle, wait for a correction to it before you continue long with this pair towards the level 1.5891.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus