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Looking to buy within 1.2669-1.2609

Looking to buy within 1.2669-1.2609 | 28 July 2023

28 July 2023, GBP/USD

Looking to buy within 1.2669-1.2609

Technical observation

GBP is pulling back to the supportive zone 1.2669-1.2609 for a second time and I expect a rejection within it followed by a surge to the upper side. 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 1.3610 and stop-loss at 1.2305. If the price rises above the level 1.3610, wait for a pullback to the broken line before you continue long towards the resistance level 1.4376, on the other hand, should the price decline before the zone 1.2669-1.2609, you can anticipate possible bearish movements towards the supportive levels 1.1688 and 1.0363.

Trade recommendation

Wait for a correction to the zone 1.2669-1.2609 to buy GBP.

Imelda Maseno
Analyst of «FreshForex» company
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