Sell GBP within the zone 1.2669-1.2609 | 03 April 2023

03 April 2023, GBP/USD

Sell GBP within the zone 1.2669-1.2609

Technical observation

GBP is trading with an increasing bullish bias slightly below the resistance zone 1.2669-1.2609 and I expect a continuation of this upwards movement to the same zone followed by a possible rejection within it. My advice, remain flat and wait for a pullback to the zone I have mentioned above then sell a bounce within it with your take profit at 1.1688 and stop-loss at 1.3029. In case of a break below the level 1.1688, I expect the price to plummet further towards the key level 1.0363 after a pullback to the broken line and a bounce at it. On the chart above, I can only recommend bullish positions above the zone 1.2669-1.2609.

Trade recommendation

Sell GBP within the zone 1.2669-1.2609 with your take profit at 1.1688.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus