Expecting a momentum towards 1.0931 | 09 Noviembre 2022

09 Noviembre 2022, GBP/USD

Expecting a momentum towards 1.0931

Technical observation

GBP retraced to the resistance zone it established at 1.1629-1.1590 but it did not break above it, instead it bounced below this zone and it is currently trading with an increasing bearish bias; as long as price remains below this zone I expect it to rally further to the lower side. If you are currently holding short positions with the pair above, I recommend that you remain in the trade with your take profit at 1.0931 and stop-loss at 1.1856, a further surge towards the level 1.0400 is expected in case of a clear break below the line 1.0931. On the chart above, I can only recommend bullish positions in case of a clear break above the zone 1.1629-1.1590.

Trade recommendation

Remain short with your take profit at 1.0931.

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.