Expecting a momentum towards 1.4615 | 23 August 2021
23 August 2021, GBP/USD
Technical observation
GBP declined steadily to the supportive zone it established at 1.3661-1.3599 but could not break below it, it bounced within the same zone and is currently trading with an increasing bullish bias. I expect this upwards movement to continue to the resistance level 1.4615 followed by a clear breakout above it with a big green candle for a further momentum to the upper side. My advice, if you bought GBP within the zone 1.3661-1.3599 after a bounce, remain long with your take profit at 1.4615 and stop loss at 1.3355. You can anticipate a momentum to the lower side in case of a clear breakout below the zone 1.3661-1.3599.
Trade recommendation
Remain long with your take profit at 1.4615.
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.
