Remain bearish with your take profit at 1.0368. | 20 March 2023

20 March 2023, GBP/USD

Technical observation

Just like EUR, GBP also retraced to a zone 1.2401-1.2308 and it was sustained below it. Right now the value of this pair is trading with an increasing bearish bias and I expect a possible further surge to the lower side. If you are currently holding short positions with GBP, I recommend that you remain in the trade with your take profit at 1.0368 and stop-loss at 1.2926. In case of a clear penetration below the level 1.0368, I expect the value of GBP to descend after a pullback to the broken line, on the other, in case of a clear break above the zone 1.2401-1.2308, I expect the price to ascend towards the levels 1.4236 and 1.6725.

Trade recommendation

Remain bearish with your take profit at 1.0368.

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