02 May 2023, GBP/USD
Technical observation
GBP is trading with an increasing bearish bias below the resistance zone it established at 1.2575-1.2663 and as long it is sustained below the same zone; I expect the price to plummet further to the lower side. If you already sold this pair, I recommend you remain short and pick your profits at the level 1.0368 with your stop-loss at 1.3106. In case of a penetration below the level 1.0368, I expect a further momentum to the lower side; on the other hand, if the price clearly breaks above the zone I mentioned earlier with a big green candle, I expect the value of this pair to ascend towards the key levels 1.4236 and 1.6725.
Trade recommendation
Remain short with your take profit at 1.0368.
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