Looking to sell within 1.2618-1.2655 | 17 June 2022

Technical observation

For the past two consecutive days now GBP has been trading with an increasing bullish bias, this upwards movement is a correction to the resistance zone price established at 1.2618-1.2655 and today I expect a continuation of this upwards movement to the same zone followed by a rejection within to pick short positions with my take profit at 1.1990 and stop-loss at 1.2846. Should price break below the level 1.1990, wait for a correction to it before you continue short towards the level 1.1445, on the other hand, in case of a clear break above the zone 1.2618-1.2655, I anticipate a possible bullish momentum towards the key level 1.3212.

Trade recommendation

Wait for a pullback to the zone 1.2618-1.2655 to sell GBP.