23 мая 2022, GBP/USD
Technical observation
GBP is trading with an increasing bullish bias below a resistance level 1.2635, this upwards movement is a correction to the same line and I expect a bounce at it to pick short positions with my take profit at 1.2099 and stop-loss at 1.2841. If price hit this take profit and clearly break below it with a big red candle, I expect the value of this pair to descend further towards the lower supportive level price established at 1.1436, on the other hand, in case of a break above the level 1.2635, possible bullish movements of price towards the resistance zone 1.3184-1.3208 is expected after a correction to the broken line.
Trade recommendation
Wait for a correction to the level 1.2635 to sell GBP.
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