We are flat | 19 January 2023

19 January 2023, GBP/USD

Technical observation

GBP has been trading with an increasing bullish bias below the resistance level 1.2650 for a while now and today I expect a continuation of this upwards movement to the same level followed by either a rejection of price at it or a clear break above it with a big green candle. If price breaches the level 1.2650, wait for a correction and a rejection at it before you continue long with this pair, on the other hand, should there be a bounce at the same level, wait for a pullback to the supportive zone 1.1690-1.1623 then re-buy GBP within it with your take profit at 1.2650 and stop-loss at 1.1153. I can only recommend short positions below the zone 1.1690-1.1623.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
ปูมบันทึกอยู่ใน
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 .