Wait for a correction to buy GBP | 21 June 2023

Technical observation

On the chart above the price rose above the level 1.2669-1.2609 and it is currently trading with an increasing bearish bias, this downwards movement is a correction to the zone I have mentioned above and I expect a possible bounce within it, However, I recommend that you wait for a second correction to the same zone to pick bullish positions with your take profit at 1.3610 and stop-loss at 1.2302. In case of a clear break above the level 1.3610, wait for a pullback and a bounce at it before you continue long towards 1.4376. As it is 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.