We're short | 18 October 2022

18 October 2022, GBP/USD

Technical observation

On the chart above price is trading with an increasing bearish bias below a resistance zone 1.1460-1.1427 and as long as GBP is sustained below this zone, I expect a further surge towards the supportive level 1.0890. If you are holding short positions with the pair above, remain in the trade with your take profit at 1.0890 and stop-loss at 1.1657. In case of a clear break below the level 1.0890 with a big red candle, I expect the value of GBP to plummet further towards the lower supportive level 1.0360. On the chart above, I can only recommend bullish positions in case of a clear penetration above the zone 1.1460-1.1427.

Trade recommendation

Remain short with your take profit at 1.0890.


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.
Imelda Maseno
Analyst of «FreshForex» company
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