Expecting a momentum towards 1.4182 | 22 October 2021

22 October 2021, GBP/USD

Expecting a momentum towards 1.4182

Technical observation

GBP retraced to a supportive zone it established at 1.3572-1.3515 but it could not break below it, price was sustained above the zone and as long as it remains above it you can only expect a surge to the upper side. If you picked long positions within the zone I have mentioned above after a bounce, remain in the trade with your take profit at 1.4182 and stop loss at 1.3218. In case of a clear breakout above the resistance level 1.4182 with a big green candle, I expect a retracement to it followed by a further surge to the upper side. On the other hand in case of a clear break below the zone 1.3572-1.3515 with a big red candle, I expect the value of the pair to descend to the supportive level 1.2565.

Trade recommendation

Remain long with your take profit at 1.4182.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
ปูมบันทึกอยู่ใน
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 .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus