Wait for a pullback to the zone 1.1758-1.1739 | 19 September 2022

Technical observation

On the 4 hour chart above price bounced at the supportive level 1.1369 and since then it has been trading with an increasing bullish bias; today I expect a continuation of this upwards movement to the resistance zone 1.1758-1.1739. My advice, remain flat and wait for a correction to the zone I have indicated above then sell a bounce within it with your take profit at 1.1369 and stop-loss at 1.1852. In case there is no bounce within the zone mentioned above but a clear break above it with a big green candle, I expect the value of GBP to ascend towards the resistance level 1.2317 or even higher to the key levels 1.2652 and 1.3181.

Trade recommendation

Wait for a correction to the zone 1.1758-1.1739 to sell GBP.