we are short within 1.2635-1.2591 | 30 May 2022

30 May 2022, GBP/USD

Technical observation

GBP rose to the resistance zone 1.2635-1.2591 and currently it is trading within it with an increasing bullish bias. I expect a loss of this upwards movement within the same zone followed by a rally to the lower side. My advice, sell a bounce within the zone I have mentioned above with your take profit at 1.2099 and stop-loss at 1.2837. In case of a break below the level 1.2099, I expect price to plummet further towards the supportive level 1.1436, however should it clearly penetrate above the zone 1.2635-1.2591, I expect it to ascend towards the resistance level 1.3264 after a correction to the broken zone and a rejection within it.

Trade recommendation

Sell GBP within 1.2635-1.2591 with your take profit at 1.2099.


The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
Imelda Maseno
Analyst of «FreshForex» company
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