09 August 2023, GBP/USD
Technical observation
GBP pulled back to the supportive zone 1.2669-1.2609 for a second time but did not break below it, instead it bounced within this zone and since then it has been trading with an increasing bullish bias, in case you are already holding bullish positions with this pair, I recommend that you remain in the trade with your take profit at 1.3610 and stop-loss at 1.2219, if the price rises above the level 1.3610 wait for a correction to the broken line before you continue long towards the level 1.4376 or higher, however, in case of a penetration below the zone 1.2669-1.2609, short this pair towards the supportive levels 1.1688 and 1.0363.
Trade recommendation
Remain bullish with your take profit at 1.3610.
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