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Remain bearish

Remain bearish | 15 November 2022

15 November 2022, GBP/USD

Technical observation

Just like EUR, GBP bounced within a resistance zone it established at 1.1835-1.1755 and since then I has been trading with an increasing bearish bias, as long as price is sustained below this zone, I expect a continuation of this downwards movement and if you are already holding short positions with the pair above, my advice is you remain in the trade with your take profit at 1.0363 and stop-loss at 1.2150. In case of a clear break below the level 1.0363, continue short after a correction and a rejection at the broken line. As it is on the chart above, I can only recommend bullish positions in case of a clear break above the zone 1.1835-1.1755.

Trade recommendation

Remain bearish with your take profit at 1.0363.

Imelda Maseno
Analyst of «FreshForex» company
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