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Wait | 30 June 2023

30 June 2023, GBP/USD

Technical observation

GBP is trading with an increasing bearish between the supportive 1.2360-1.2342 and a resistance level 1.2847 this downwards movement is a correction to the zone I have mentioned above and I expect a decline to the same zone followed by a rejection within it. My advice, remain neutral and wait for a correction to the zone indicated above then buy a bounce within it with your take profit at 1.2847 and stop-loss at 1.2241. If the price is not sustained above the zone 1.2360-1.2342 but clearly breaks below it with a big red candle, I expect the value of this pair to plummet towards the supportive level 1.1797 or lower.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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