21 July 2022, GBP/USD
Technical observation
GBP broke below a supportive zone it established at 1.2100-1.2024 and this week it has been trading with an increasing bullish bias below the same zone. This upwards movement is a correction to the zone indicated above and I expect a rise to it followed by a bounce to pick short positions towards the supportive level 1.1419. If there is a clear break below the level 1.1419, I expect the value of GBP to descend further after a correction to the broken line, and should there be a rise above the zone I mentioned earlier, I would recommend that you wait for a correction to the resistance level 1.4236 to re-sell GBP.
Technical observation
Wait for a correction to the zone 1.2100-1.2024 to sell GBP.