Wait for a correction to the zone 1.4343-1.4196 | 18 Octubre 2023

18 Octubre 2023, GBP/USD

Technical observation

GBP is trading with an increasing bullish bias around level 1.2172 and this week I expect the price to ascend even further towards the resistance zone 1.4343-1.4196, my advice, remain flat and wait for pullback to the zone indicated above then sell a bounce within it with your take profit at 1.0877 and stop-loss at 1.5025. If the price declines below the level 1.0877 with a big red candle, I expect the value of this pair to plunge further to the lower side, on the other hand, should the price rise above the zone 1.4343-1.4196, wait for a correction to this broken zone before you pick bullish positions towards the level 1.7195.

Trade recommendation

Wait for a correction to the zone 1.4343-1.4196 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.