24 Mei 2022, GBP/USD
Technical observation
On the 4 hour chart above, price is trading with an increasing bullish bias below a resistance zone 1.2638-1.2613 and I expect a loss of this upwards movement within the same zone followed by surge to the lower side. My advice, pick short positions within the zone I have mentioned above after a bounce with your take profit at 1.2172 and stop-loss at 1.2760. If price is not sustained below the zone Indicated above but clearly penetrates above it with a big green candle, I expect a possible momentum of price to the resistance level 1.3188 after a pullback to the broken zone. Right now I would recommend that you remain flat temporarily.
Trade recommendation
Remain flat temporarily.