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We are short towards 1.0368

We are short towards 1.0368 | 13 December 2022

13 December 2022, GBP/USD

We are short towards 1.0368

Technical observation

GBP pulled back to the zone it established at 1.2278-1.2186 but it did not break above it, instead it bounced within this zone and it is currently trading with an increasing bearish bias, as long price is sustained above the zone I mentioned earlier, I expect a continuation of this downwards movement and in case you are currently holding short positions with the pair above, my advice is, remain in the trade with your take profit at 1.0368 and stop-loss at 1.267. If there is a clear break below the level supportive 1.0368, I expect the value of GBP to plummet further to the lower side after a correction to the broken line.

Trade recommendation

Remain short with your take profit at 1.0368.

Imelda Maseno
Analyst of «FreshForex» company
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