Wait for a retracement to sell GBP | 26 Agustus 2022

26 Agustus 2022, GBP/USD

Wait for a retracement to sell GBP

Technical observation

On the chart above, price declined to the supportive 1.1724 then bounced at it and since then it has been trading with an increasing bullish bias. This upwards movement is a correction to the zone 1.2661-1.2605 and I expect a rejection of price within it to pick short positions with my take profit at 1.1724 and stop-loss at 1.2851. If there is a clear break above the zone 1.2661 -1.2605 with a big green candle, I expect the value of GBP to ascend towards the resistance level 1.2178 after a correction to the broken zone. A further surge to the lower side can be expected in case of a clear breakout below the supportive level 1.1724.

Trade recommendation

Remain flat.

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