We are sellers towards 1.0368. | 10 Maret 2023

10 Maret 2023, GBP/USD

We are sellers towards 1.0368.

Technical observation

On the weekly chart above the value of GBP has been trading with an increasing bearish bias for the past three consecutive weeks and this week I expect a continuation of this downwards movement. In case you picked short positions within the zone 1.2401-1.2306 after a bounce, I recommend that you remain in the trade with your take profit at 1.0368 and stop-loss at 1.2850, if there is a break below the level 1.0368, remain flat and wait for a correction to it before you continue short with this pair, and in case the price rises above the zone 1.2401-1.2306, I anticipate a possible momentum towards the resistance level 1.4236.

Trade recommendation

Remain short with your take profit at 1.0368.

Imelda Maseno
Analyst of «FreshForex» company
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