We are flat | 28 February 2022

28 February 2022, GBP/USD

We are flat

Technical observation

On the 4 hour chart above, the price rallied to the upper side on Friday and today I expect a continuation of this upwards movement towards the resistance zone 1.3522-1.3510, followed by a rejection within it to pick short positions with my take profit at 1.3356 and stop-loss at 1.3578. If the price breaks below level 1.3356 with a big red candle, I expect it to plummet further towards the supportive level 1.3183. On the other hand in case of a break above the zone 1.3522-1.3510 with a big green candle, I expect a surge to the upper side after a pullback to the broken zone. Right now remaining neutral is ideal than picking any positions.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .