We are neutral | 04 Octubre 2023

04 Octubre 2023, GBP/USD

Technical observation

GBP has been trading with an increasing bearish bias with the past two consecutive candles and today it could descend even further, however, I expect a possible loss of this downwards movement followed by a correction to the zone 1.2635-1.2589 and a possible rejection of price within it. My advice remain neutral and wait for a pullback to the zone I have indicated above then sell a bounce within it with your take profit at 1.1688 and stop-loss at 1.2890, if the price clearly penetrates below the level 1.1688 with a big red candle, I expect it to plunge further towards the supportive level 1.0363 or lower.

Trade recommendation

Remain flat.

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.