Wait for a pullback to the zone 1.2635-1.2589 | 25 October 2023

25 October 2023, GBP/USD

Wait for a pullback to the zone 1.2635-1.2589

Technical observation

GBP is trading with an increasing bearish bias between the supportive level 1.1702 and a resistance zone 1.2635-1.2589; today I expect a possible momentum to the zone indicated above followed by a bounce within it. My advice, remain flat and wait for a correction to the zone1.2635-1.2589 then pick short positions within it with your take profit at 1.1702 and stop-loss at 1.2849. If the price descends below the level 1.1702, I expect it to plunge further to the lower side towards the key level 1.0363 or lower, contrary, I anticipate a surge towards level 1.3610 or higher should the price break above the zone 1.2635-1.2589.

Trade recommendation

Wait for a pullback to the zone 1.2635-1.2589 to sell GBP.

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 .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus