14 Maret 2022, GBP/USD
Technical observation
GBP declined below the supportive zone 1.3203-1.3183 with a big red candle then pulled back to it and it was sustained below the zone. As long as price remains below the same zone, I expect it to rally towards the supportive level 1.2688. If you picked short positions within 1.3203-1.3183 after a bounce, remain in the trade with your take profit at 1.2688 and stop loss at 1.3324. On your way downwards the key levels to look for include 1.2688, 1.2099 and the lower supportive level 1.1436. If you are still neutral with the pair above, wait for a second retracement to 1.3203-1.3183 to pick short positions. I can only recommend bullish positions above the zone 1.3203-1.3183.
Trade recommendation
Remain short with your take profit at 1.2688.