Looking to sell within the zone 1.2669-1.2609 | 05 May 2023

05 May 2023, GBP/USD

Technical observation

GBP is trading with an increasing bullish bias below the resistance zone 1.2669-1.2609 and I expect a loss of this upwards movement within the same zone followed by a surge to the lower side. Right now, I recommend you sell a bounce within the zone indicated above with your take profit at 1.1688 and stop-loss at 1.3061. In case of a break below the level 1.1688, you can expect the value of GBP to plummet towards the supportive level 1.0363 or lower, but if the price rises above the zone 1.2669-1.2609, I expect it to continue with the bullish momentum towards the resistance levels 1.3610 0r higher to 1.4376.

Trade recommendation

Sell GBP within the zone 1.2669-1.2609 with your take profit at 1.1688.

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.