We are short towards 1.2099 | 06 June 2022

06 June 2022, GBP/USD

Technical observation

Since it bounced within the zone 1.2635-1.2591 GBP has been trading with an increasing bearish bias and as long it is sustained below the same zone I expect price to plummet further towards the supportive level 1.2099. If you picked short positions within the zone I have mentioned above, remain in the trade with your take profit at 1.2099 and stop-loss at 1.2841. Should there be a clear break below the level 1.2099, continue short towards the supportive level 1.1436 after a correction to the broken level. However if price breaks above the zone 1.2635-1.2591, wait for a correction to it before you pick bullish positions towards 1.3264.

Trade recommendation

Remain short with your take profit at 1.2099.

Imelda Maseno
Analyst of «FreshForex» company
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