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Remain short with your take profit at 1.0368

Remain short with your take profit at 1.0368 | 27 December 2022

27 December 2022, GBP/USD

Remain short with your take profit at 1.0368

Technical observation

GBP pulled back to the zone it established at 1.2278-.2186 but did not break above it, instead price bounced within the same zone and it is currently trading with an increasing bearish bias, as long as the value of GBP is contained below the zone indicated above, I expect it to surge further to the lower side and in case you picked short positions within the zone 1.2278-1.2186 after a bounce, my advice is, remain short with your take profit at 1.0368 and stop-loss at 1.2740. Should there be a penetration below the level 1.0368 with a big red candle, wait for a correction and a rejection at it before you continue short with this pair.

Trade recommendation

Remain short with your take profit at 1.0368 and stop-loss at 1.2740.

Imelda Maseno
Analyst of «FreshForex» company
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