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Sell GBP within the zone 1.3356-1.3279

Sell GBP within the zone 1.3356-1.3279 | 01 August 2023

01 August 2023, GBP/USD

Sell GBP within the zone 1.3356-1.3279

Technical observation

On the chart above, the price is pulling back to the resistance zone 1.3356-1.3279 and I expect a possible bounce within this zone followed by a momentum to the lower side. My advice, remain flat and wait for a pullback to the zone I have indicated above then sell a bounce within it with your take profit at 1.1307 and stop-loss at 1.3778 If there is a clear breach below the level 1.1307, wait for a retracement to the broken line before you continue short towards the level 1.0368, however if the price rises above the zone 1.3356-1.3279, pick bullish positions towards the key levels 1.4749 and 1.6725.

Trade recommendation

Sell GBP within the zone 1.3356-1.3279 with your take profit at 1.1307.

Imelda Maseno
Analyst of «FreshForex» company
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