Expecting a rally to the level 1.1775 | 22 July 2022
22 July 2022, GBP/USD
Technical observation
GBP is trading with an increasing bearish bias below a resistance zone it established at 1.2048-1.2030 and my expectation is a continuation of this bearish movement to the supportive level 1.1775.If you are currently holding bearish positions, I would advise that you remain in the trade with your take profit at the level I have mentioned above and stop loss at 1.2152. Should there be a clear break below the level 1.1775 with a big red candle, continue short after a pullback to the broken line followed by a rejection at it and in case of a clear breakout above the zone 1.2048-1.2030, I expect price to ascend towards the resistance level 1.2658.
Technical observation
Remain short with your take profit at 1.1775.
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.
