Remain neutral. | 07 July 2022

07 July 2022, GBP/USD

Technical observation

GBP is trading with an increasing bullish bias between the supportive level 1.1876 and a resistance level 1.1994, I expect a continuation of this upwards movement to the level 1.1994 followed by a bounce at it to pick short positions. My advice, remain neutral and wait for a correction to the resistance level mentioned above then sell GBP at it after a bounce with your take profit at 1.1876 and stop-loss at 1.2048. Continue short after a clear break below the level 1.1876, should there be a clear break above the resistance line marked at 1.1994 with a big green candle, I expect possible upwards movement of price towards the key level 1.2174.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
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 .