Wait for a correction to the zone 1.0928-1.0896 | 28 September 2022

Technical observation

On the hourly chart above, price is trading with an increasing bullish bias slightly below a resistance zone it established at 1.0928-1.0896, this upwards movement is a correction to the zone I have mentioned above and I expect a rejection of price within it to pick short positions. My advice, remain flat temporarily and wait for a pullback to the resistance zone 1.0928-1.0896 then sell a bounce within it with your take profit at the supportive level 1.0400 and stop-loss at 1.1096. If there is a clear break below 1.0400, I expect the value of GBP to plummet further after a correction and a bounce at the broken line.

Trade recommendation

Remain flat.