Wait for a correction to the zone 1.1690-1.1623 | 30 December 2022
30 December 2022, GBP/USD
Technical observation
Just like EUR, GBP is trading with an increasing bullish momentum above the supportive zone 1.1690-1.1623 and I expect either a continuation of this upwards movement to the level 1.2650 or a loss of it followed by a correction to the zone indicated above. If there is a rally to the level 1.2650, wait for a rejection of price at it followed by a pullback to the zone 1.1690-1.1623 to buy GBP with your take profit at 1.2650 and stop-loss at 1.1316. Should there be a clear break above the level 1.2650, I recommend that you wait for a pullback and a rejection of price at it before you continue long with this pair towards the level 1.3610.
Trade recommendation
Wait for a correction to the zone 1.1690-1.1623 to buy GBP.
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.
