Wait for a correction to the level 1.2335 | 15 Desember 2022

15 Desember 2022, GBP/USD

Technical observation

GBP is trading with an increasing bearish bias above the supportive level 1.2335, this downwards movement is a correction to the level indicated above and I expect a rejection at it followed by a momentum to the upper side. Right now as it is on the chart above, I recommend that you remain flat and wait for second retracement to the level 1.2335 before you pick bullish positions with your take profit at 1.2772 and stop-loss at 1.2124. If price break above the level 1.2772, I expect it to ascend further after a correction to the broken line, on the other hand in case of a break below the level 1.2335, I expect bearish movements towards 1.1744.

Trade recommendation

Wait for a correction to the level 1.2335 to sell GBP.

Imelda Maseno
Analyst of «FreshForex» company
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