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Expecting a rally to 1.2758.

Expecting a rally to 1.2758. | 10 June 2022

10 June 2022, GBP/USD

Expecting a rally to 1.2758.

Technical observation

GBP pulled back to the supportive 1.2490-1.2469 but did not break below it, instead it bounced within the zone and currently it is trading with an increasing bullish bias. As long a price is sustained above the zone mentioned above, I expect a continuation of this upwards movement to the resistance level 1.2758 followed by either a clear break above it with a big green candle, or a rejection at it. If you are currently holding bullish positions with the pair above, remain in the trade with your take profit at 1.2758 and stop-loss at 1.2338. I can only recommend short positions in case of a clear break below the zone 1.2490-1.2469.

Trade recommendation

Remain long with your take profit at 1.2758.

Imelda Maseno
Analyst of «FreshForex» company
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