Wait | 15 May 2023

15 May 2023, GBP/USD

Wait

Technical observation

Just like EUR, GBP is also pulling back to a supportive zone 1.2373-1.2353 as indicated on the chart above and I expect a further surge to the same zone followed by a rejection of price within it. My advice, remain flat and wait for a correction to the zone I have mentioned above then buy a bounce within it with your take profit at 1.2850 and stop-loss at 1.2200. If the price clearly breaks above the level 1.2850, wait for a correction to it before you continue long with this pair, but should the value of GBP decline below the zone 1.2373-1.2353, you can expect it to descend towards the supportive level 1.1808.

Trade recommendation

Remain neutral.

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.