Wait for a pullback to the level 1.2847 | 20 Julio 2023

20 Julio 2023, GBP/USD

Wait for a pullback to the level 1.2847

Technical observation

On the 4 hour chart above the price is trading with an increasing bearish bias slightly above the supportive level 1.2847 and I expect a decline to this line followed by either a bounce at it or a clear break below it with a big green candle. If you are neutral with this pair remain flat and wait for a bounce at the level 1.2847 to buy GBP with your take profit at 1.3294 and stop-loss at 1.2747, should there be a rise above the level 1.3294, continue long with this pair after a correction and a bounce at the broken line, but in case of a clear breach below the line 1.2847, short GBP towards the supportive level 1.2319-1.2310.

Trade recommendation

Wait for a pullback to the level 1.2847 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.