Expecting a surge to 1.1779 | 18 Agosto 2022

18 Agosto 2022, GBP/USD

Expecting a surge to 1.1779

Technical observation

GBP bounced below a resistance zone 1.2318-1.2293 and since then it has been trading with an increasing bearish bias; as long as price remains below the zone mentioned above, I expect it to surge further to the lower side. If you are currently holding short positions with the pair above, I would recommend that you remain in the trade with your take profit at 1.1779 and stop-loss at 1.2404. If this take profit is hit and there is a clear break below it with a big red candle, I expect the value of GBP to plummet further after a correction to the broken line. I can only recommend bullish positions above the zone 1.2318-1.2293.

Trade recommendation

Remain short with your take profit at 1.1779.

Imelda Maseno
Analyst of «FreshForex» company
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.