We are long | 15 February 2022

Technical observation

On the 4 hour chart above price retraced to a supportive zone it established at 1.3522-1.3510 but it could not break below it and since it bounced within this zone it has been trading with an increasing bullish bias. I expect a continuation of this upwards movement to the resistance line 1.3658 followed by either a bounce at it or a clear breakout above it with a big green candle. If you are currently holding bullish positions with this pair I would advise that you remain in the trade with your take profit at 1.3658 and stop loss at 1.3452. As long as GBP is sustained above the zone 1.3522-1.3510 I can only recommend bullish positions.

Trade recommendation

Remain long with your take profit at 1.3658.