22 tháng Tám 2022, GBP/USD
Technical observation
GBP broke below the zone 1.2049-1.2025 and since then it has been trading with an increasing bearish bias, however, my expectation is a loss of this downwards movement followed by a momentum to the zone indicated above. The anticipated upwards movement of price is a correction to the zone I mentioned earlier and I expect a rejection of price within it to pick short positions with my take profit at 1.1759 and stop-loss at 1.2120. Should there be a clear break below the level 1.1759 with a big red candle, I expect the value of GBP to plummet further after a pullback to the broken line. I can only recommend bullish positions above zone 1.2049-1.2025.
Trade recommendation
Wait for a correction to the zone 1.2049-1.2025 to sell GBP.
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