22 August 2023, GBP/USD
Technical observation
GBP retraced to a supportive zone 1.2669-1.2609 then bounced within it and since then the price has been trading with an increasing bullish bias, as long as the value of this pair is sustained above the zone I mentioned earlier, I expect a further surge to the upper side. In case you are already holding bullish positions with this pair, I recommend that you remain in the trade with your take profit at 1.3610 and stop-loss at 1.2419, if there is a clear rise above the level 1.3610 with a big green candle, wait for a pullback to this broken line and a rejection at it before you continue long towards the upper resistance level 1.4376.
Trade recommendation
Remain bullish with your take profit at 1.3610.
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