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Wait for a pullback to the level 1.3084

Wait for a pullback to the level 1.3084 | 10 November 2023

10 November 2023, GBP/USD

Wait for a pullback to the level 1.3084

Technical observation

On the weekly chart above, the value of GBP declined to a lower trend line as shown above then bounced at it, currently the price is trading with an increasing bullish bias and I expect a further surge to the upper side to the level 1.3084 followed by a rejection of price at it. My advice, remain flat and wait for a pullback to the level 1.3084 then sell a bounce at it with your take profit at 1.2033 and stop-loss at 1.3648. If the price breaks below the level 1.2033, wait for a correction to this line before you continue short towards 1.0863.

Trade recommendation

Wait for a pullback to the level 1.3084 to sell GBP.

Imelda Maseno
Analyst of «FreshForex» company
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