Wait for a correction to the zone 1.2635-1.2589 | 12 Octubre 2023

12 Octubre 2023, GBP/USD

Wait for a correction to the zone 1.2635-1.2589

Technical observation

The pair on the daily chart above opened bullish today and I expect a continuation of this upwards movement towards the resistance zone 1.2635-1.2589 followed by either a rejection of price within it or a clear break above it with a big green candle. If the price bounces within the zone I have mentioned above, pick short positions within it with your take profit at 1.1688 and stop-loss at 1.2888, on the other hand should there be a clear breach above the zone 1.2635-1.2589 with a big green candle, wait for a correction to this zone before you long GBP towards the level 1.3610 or higher; a further surge to the lower side can be expected below the level 1.1688.

Trade recommendation

Wait for a correction to the zone 1.2635-1.2589 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.