22 February 2022, GBP/USD
Technical observation
On the chart above GBP retraced to the supportive zone it established at 1.3435-1.3354 but it could not break below it, price bounced within the zone and since then it has been trading with an increasing bullish bias, this week I expect a continuation of this upwards movement towards the resistance level 1.4631 followed by either a clear breakout above it with a big green candle or a rejection at followed by another correction to the zone mentioned above. If you are currently holding bullish positions with the pair above I would advise that you remain in the trade with your take profit at 1.4631 and stop loss at 1.3053.
Trade recommendation
Remain long with your take profit at 1.4631.
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