We are bullish towards 1.2650 | 16 March 2023
16 March 2023, GBP/USD
Technical observation
On the 4 hour chart above, the price bounced within the supportive zone 1.1827-1.1738 then rose for a while, however, yesterday this pair retraced slightly towards the zone I have mentioned above and i expect a loss of this bearish movement followed by a rally to the upper side. If you are holding bullish positions with the pair above, I recommend that you remain in the trade with your take profit at 1.2650 and stop-loss at 1.1366. In case of a clear break above the level 1.2650 wait for a correction and a bounce at it before you continue long with GBP towards the resistance levels 1.3610, 1.4376 or higher.
Trade recommendation
Remain bullish with your take profit at 1.2650.
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.
