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Buy GBP within the zone 1.2556-1.2533

Buy GBP within the zone 1.2556-1.2533 | 06 September 2023

06 September 2023, GBP/USD

Buy GBP within the zone 1.2556-1.2533

Technical observation

GBP pulled back to the supportive zone it established at 1.2556-1.2533 but did not break below it, instead it bounced within this zone and today I expect a possible momentum to the upper side. My advice, buy GBP now within the zone I have indicated above with your take profit at 1.2991 and stop-loss at 1.2399, if there is a clear break above the level 1.2991 with a big green candle, wait for a correction to the broken line before you continue long with this pair, on the other hand if the price declines below the zone 1.2556-1.2533, short GBP towards the supportive levels 1.2182 and 1.1810.

Trade recommendation

Buy GBP within the zone 1.2556-1.2533 with your take profit at 1.2991.

Imelda Maseno
Analyst of «FreshForex» company
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