Expecting a momentum to 1.4239 . | 04 March 2022

04 March 2022, GBP/USD

Expecting a momentum to 1.4239 .

Technical observation

Since the beginning of the week, GBP has been trading with an increasing bullish bias within the supportive zone 1.3349-1.3298 as I had predicted. I expect a continuation of this upwards movement to the resistance level 1.4239 followed by either a clear breakout above it with a big green candle, or a rejection at it followed by another correction to the zone I have mentioned above. If you picked long positions within the zone 1.3349-1.3298 at the beginning of the week I would advise that you remain in the trade with your take profit at 1.4239 and stop-loss at 1.2916. If price breaks below the same zone red candle, I expect it to plummet towards the supportive level 1.2028.

Trade recommendation

Remain long with your take profit at 1.4239.

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 .