Wait for a correction to sell GBP | 12 Agustus 2022

12 Agustus 2022, GBP/USD

Wait for a correction to sell GBP

Technical observation

GBP continues to trade with an increasing bullish bias between the supportive level 1.1410 and the resistance zone 1.2579-1.2623, this upwards movement is a correction to the zone I have mentioned above and I expect price to ascend and bounce within it. Right now as it is on the weekly chart above, I would advise that you remain flat and wait for a correction to the zone indicated above then sell a bounce within it with your take profit at 1.1410 and stop-loss at 1.3036. A further rally to the lower side can be expected in case of a clear break below the level 1.1410, however, in case of a clear break above the zone 1.2579-1.2623, I expect price to surge towards 1.3680.

Trade recommendation

Wait for a correction to the zone 1.2579-1.2623 to sell GBP.

Imelda Maseno
Analyst of «FreshForex» company
Setuju dengan review?
opini pedagang:
Close
Masuk
Browser Anda tidak mendukung kue. Jika cookie dinonaktifkan di browser Internet Anda, Anda mungkin memiliki masalah dengan render daerah Pribadi. Cara mengaktifkan dukungan cookie.
manager photo manager photo
Online-support
Dengan senang hati, kami akan menjawab pertanyaan Anda

Tulis

Get bonus