We are neutral temporarily | 13 September 2022
13 September 2022, GBP/USD
Technical observation
GBP has been rising steadily for several days now and it is currently trading with an increasing bullish bias slightly below a resistance zone it established at 1.1837-1.1855, today I expect a continuation of this upwards movement to the zone mentioned above followed by a possible bounce within it. My advice, remain neutral temporarily and wait for a retracement to the zone I have indicated above then sell a bounce within it with your take profit at 1.1428 and stop-loss at 1.1954. In case of a clear break above the zone 1.1837-1.1855, I can only recommend picking long positions after a second correction to the same zone.
Trade recommendation
Remain neutral temporarily.
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.
