Expecting a rally to 1.4239 . | 02 February 2022
02 February 2022, GBP/USD
Technical observation
GBP has been trading with an increasing bullish bias above the supportive zone 1.3435-1.3354 as I predicted at the beginning of the week, my expectation is a further rally to the upper side to the resistance level 1.4239 followed by either a clear breakout above it with a big green candle, or a bounce at it followed by another correction to the zone I have mentioned above. If you currently holding bullish positions with the pair above, I would advise that you remain long with your take profit at 1.4239 and stop loss at 1.3132. In case of a clear breakout above the level 1.4239 I anticipate further bullish movements towards 1.5535.
Trade recommendation
Remain long with your take profit at 1.4239.
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.
