25 July 2023, GBP/USD
Technical observation
On the chart above, GBP pulled back to the supportive zone 1.2825-1.2809 and it is currently trading with an increasing bearish bias within it, today I expect a loss of this upwards movement followed by a surge to the upper side. My advice, pick bullish positions now within the zone 1.2825-1.2809 with your take profit at 1.3144 and stop-loss at 1.2694. If the price breaks above the level 1.3144, wait for a correction to the broken line before you continue long, on the other hand, if there is a breach below 1.2825-1.2809, short GBP towards the supportive levels 1.2310, 1.1797 after a correction to the broken and a rejection within the broken zone.
Trade recommendation
Pick bullish positions within the zone 1.2825-1.2809 with your take profit at 1.3144.
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