Wait for a correction to sell GBP | 10 Octubre 2023

10 Octubre 2023, GBP/USD

Wait for a correction to sell GBP

Technical observation

GBP is trading with an increasing bullish bias slightly below the resistance zone 1.2282-1.2269 and today I expect a further rise to this zone followed by a bounce within it. My advice, remain neutral and wait for a correction to the zone I have mentioned above then sell this pair within it with your take profit at 1.1797 and stop-loss at 1.2374. If the price declines below the level 1.1797 wait for a correction to the broken line before you continue short with this pair, however, if there is a clear penetration above the zone 1.2282-1.2269, I expect the value of this pair to ascend further towards the key levels 1.2581 and 1.2992.

Trade recommendation

Wait for a correction to the zone 1.2282-1.2269 to sell 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.