18 Februari 2022, GBP/USD
Technical observation
Since the beginning of the week GBP has been trading with an increasing bullish bias and I expect price to close bullish tomorrow. Next week I expect a continuation of this upwards movement towards the resistance level 1.4239 and at this line price can either break above it with a big green candle, or bounce at it followed by another correction to the supportive zone 1.3435-1.3354. If you are currently holding long positions with this pair, remain in the trade with your take profit at 1.4239 and stop loss at 1.2915. As it is on the weekly chart above bearish positions can only be recommended below the zone 1.3435-1.3354.
Trade recommendation
Remain long with your take profit at 1.4239.