Wait for a pullback to the zone 1.2100-1.2024 | 21 July 2022
21 July 2022, GBP/USD
Technical observation
GBP broke below a supportive zone it established at 1.2100-1.2024 and this week it has been trading with an increasing bullish bias below the same zone. This upwards movement is a correction to the zone indicated above and I expect a rise to it followed by a bounce to pick short positions towards the supportive level 1.1419. If there is a clear break below the level 1.1419, I expect the value of GBP to descend further after a correction to the broken line, and should there be a rise above the zone I mentioned earlier, I would recommend that you wait for a correction to the resistance level 1.4236 to re-sell GBP.
Technical observation
Wait for a correction to the zone 1.2100-1.2024 to sell GBP.
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.
