Wait | 19 Oktober 2023

19 Oktober 2023, GBP/USD

Wait

Technical observation

The value of the pair above is trading with an increasing bearish bias between the supportive level 1.1688 and a zone 1.2635-1.2589 and today I expect either a further surge to the lower side or a loss of this downwards movement followed by another correction to the zone I have mentioned above. My advice, remain flat and wait for a pullback to the zone 1.2635-1.2589 then sell a bounce within it with your take profit at 1.1688 and stop-loss at 1.2939, should the price break below the level 1.1688, wait for a retracement to the just broken line before you continue short towards the key level 1.0363 or lower.

Trade recommendation

We are flat.

Imelda Maseno
Analyst of «FreshForex» company
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