25 October 2021, GBP/USD
Technical observation
On the 4 hour cart above, price retraced to a supportive zone 1.3758-1.3749 as I had predicted but could not break below it, it bounced within the zone and is currently trading with an increasing bullish bias. I expect a continuation of this bullish movement to the resistance level 1.3883 followed by either a clear breakout above with a big green candle or a bounce at it followed by another correction to the supportive zone mentioned above. If you are bullish with this pair right now, remain in the trade with your take profit at 1.3883 and stop loss at 1.3686. On the chart above, I can only recommend short position below the zone 1.3758-1.3749.
Trade recommendation
Remain long with your take profit at 1.3883.
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