We are short towards 1.2099 | 06 June 2022

06 June 2022, GBP/USD

Technical observation

Since it bounced within the zone 1.2635-1.2591 GBP has been trading with an increasing bearish bias and as long it is sustained below the same zone I expect price to plummet further towards the supportive level 1.2099. If you picked short positions within the zone I have mentioned above, remain in the trade with your take profit at 1.2099 and stop-loss at 1.2841. Should there be a clear break below the level 1.2099, continue short towards the supportive level 1.1436 after a correction to the broken level. However if price breaks above the zone 1.2635-1.2591, wait for a correction to it before you pick bullish positions towards 1.3264.

Trade recommendation

Remain short with your take profit at 1.2099.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Login
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .