01 tháng Ba 2022, GBP/USD
Technical observation
Last week GBP retraced to the supportive zone it established at 1.3349-1.3298 but it could not break below it, instead, price bounced above the zone and yesterday price opened bullish. 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 bounce at it followed by another correction to the zone mentioned above. If you picked long positions within the zone 1.3349-1.3298 after a bounce, remain in the trade with your take profit at 1.4239 and stop loss at 1.2916. As it is on the weekly chart above, bearish positions can only be recommended below the zone 1.3349-1.3298.
Trade recommendation
Remain long with your take profit at 1.4239.
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