Wait for a pullback to the zone 1.2119-1.2102 to buy GBP. | 31 Enero 2023

31 Enero 2023, GBP/USD

Wait for a pullback to the zone 1.2119-1.2102 to buy GBP.

Technical observation

GBP is trading with an increasing bearish bias below the resistance level it established at 1.2425 and today I expect a continuation of this downwards movement towards the zone 1.2119-1.2102 followed by a possible rejection of price within it. My advice remain flat and wait for a correction to the zone indicated above then pick bullish positions within it after a bounce with your take profit at 1.2425 and stop-loss at 1.216. In case of a clear break above the level 1.2016, I expect the value of GBP to ascend further after a pullback and a bounce at the broken line. On the chart above, I can only recommend short positions below the zone 1.2119-1.2102.

Trade recommendation

Wait for a pullback to the zone 1.2119-1.2102 to buy GBP.

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.