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GBP/USD. The pound has started to feel the pressure from sellers.

GBP/USD. The pound has started to feel the pressure from sellers. | 09 July 2024

09 July 2024, GBP/USD

GBP/USD. The pound has started to feel the pressure from sellers.

The situation for this pair has continued to develop according to the previously considered scenario. The British currency managed to rise again and update the local maximum, coming very close to a strong resistance zone. It is unlikely that it will pass through this zone without any effort. Most likely, there will be a reaction in the form of a pullback or the price may even drop significantly. We are already seeing the pound's rate starting to move down. You can try to take advantage of this situation and cautiously sell at current market levels with a small target for the movement.
Investment idea: sell 1.2800, stop loss 1.2825, take profit 1.2750.
Bob Stan
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