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Wait for a correction to the zone 1.2669-1.2609

Wait for a correction to the zone 1.2669-1.2609 | 19 June 2023

19 June 2023, GBP/USD

Technical observation

GBP broke above the zone 1.2669-1.2609 with a big green candle and it is trading with an increasing bullish bias. Today I expect either a continuation of this upwards movement or a loss of it followed by a pullback to the zone indicated above. My advice, remain neutral and wait for a correction to the zone I have mentioned above to pick bullish positions with your take profit at 1.3610 and stop-loss at 1.2258. If there is a clear break above the level 1.3610 with a big green candle, I expect the price to ascend further towards the level 1.4376; on the chart above as long as the price is sustained above the zone 1.2669-1.2609, I can only recommend bullish positions.

Trade recommendation

Wait for a correction to the zone 1.2669-1.2609 to buy GBP.

Imelda Maseno
Analyst of «FreshForex» company
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