13 September 2023, GBP/USD
Technical observation
GBP declined to the supportive level 1.2461 then bounced at it and since then it has been trading with an increasing bullish bias, today I expect a further surge to the upper side and I recommend that you remain flat and wait for a correction to the resistance zone price established at 1.2791-1.2778 then sell a bounce within it with your take profit at 1.2461 and stop-loss at 1.2887. In case of a clear break below the level 1.2461 with a big red candle, wait for a correction to the broken line before you continue short towards the key level 1.2013 or lower. I can only recommend bullish positions above the zone 1.2791-1.2778.
Trade recommendation
Wait for a correction to the zone 1.2791-1.2778 to sell GBP.
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