14 July 2023, GBP/USD
Technical observation
GBP is trading with an increasing bullish bias slightly below the resistance zone 1.3356-1.3279, this upwards movement is a correction to the zone indicated above and I expect a possible rejection within it followed by a surge to the lower side. My advice, place a pending sell limit order within the zone indicated above with your take profit at 1.1307 and stop-loss at 1.3778, if the price breaks below the level 1.1307, continue short with this pair towards the supportive line 1.0368 or lower, however, in case of a break above the zone 1.3356-1.3279, you can anticipate possible upwards movements towards the level 1.4749.
Trade recommendation
Place a pending sell limit order within zone 1.3356-1.3279 with your take profit at 1.1307 and stop-loss at 1.3778.
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