08 Februari 2021, GBP/USD
Technical observation
On the chart above, price is trading with an increasing bearish bias below a key level 1.3614. However, I expect a retracement to the same line followed by a rejection at it to sell GBP towards the supportive zone 1.3463-1.3450. My advice, remain flat temporarily and wait for a correction to the line 1.3416 and a rejection within it to sell GBP with your take profit at 1.3463 and stop loss at 1.3678. Should there be a clear breakout below the zone 1.3463-1.3450 with a big red candle, wait for a pullback to it and a bounce confirming further bearish movements of price before you continue short towards 1.3293.
Trade recommendation
Remain flat temporarily.
One of the highest demand products in FreshForex is invest-portfolios. Invest-portfolio is an optimal tool for both beginners and experienced traders due to its high efficiency and low work efforts.
This is the fifth portfolio developed by FreshForex specialists. In 2020, we proposed traders four investment portfolios, each of which demonstrated positive results. The total return was 71.5%.
2 steps to get the Invest-portfolio:
1. Fund your trading account with $50 or more from February 1 to 26, 2021.
2. Send a request to [email protected] with your account number funded.