Wait | 23 June 2023

23 June 2023, GBP/USD

Wait

Technical observation

GBP rose above a zone 1.2669-1.2609 and it is currently trading with an increasing bearish bias above it. This downwards movement is a correction to the just broken zone and i expect a possible rejection within it, however, I recommend that you wait for a second retracement to the zone I have mentioned above before you pick bullish positions with your take profit at 1.3610 and stop-loss at 1.2319. If the price is not sustained above the zone 1.2669-1.2609 but clearly breaks below it with a big red candle, wait for a correction and a bounce within the broken zone before you pick short positions towards the supportive level 1.1688.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .