We are neutral | 09 Maret 2022

09 Maret 2022, GBP/USD

We are neutral

Technical observation

On the daily chart above price broke below the supportive zone 1.3203-1.3183 with a big red candle and yesterday it continued to rally further downwards. As long as the value of this pair is sustained below the zone I have mentioned above, I expect it to plunge towards the supportive level 1.2388. My, advice, remain flat and wait for a correction to the resistance zone 1.3203-1.3183 to sell GBP with your take profit at 1.2688 and stop loss at 1.3322. On your way downwards the key levels to look for include 1.2688, 1.2099 and the lower supportive level 1.1436. I can only recommend bullish positions above the zone 1.3203-1.3183.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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