Naked Markets

On Friday, June 24, the exchange rate of the pound sterling against the Polish zloty, i.e. the GBP / PLN pair, fluctuates in the range of PLN 5.47 – that is, it generates clearer raises compared to the last trading sessions described above. In the meantime, however, the market slows down its approach amid resistance – although the target for it may be slightly higher, in the range of PLN 5.52 or higher – first it would be good to visit the PLN 5.49 region again. Generally, at this point, the assumptions should still be rather pro-growth. In summary, the GBP / PLN currency pair may generate further gains, with an emphasis on the PLN 5.49 area.

A pound with a target of PLN 5.49

chart GBPPLN H4 rate 24.06.2022
GBPPLN H4 pound rate 24/06/2022

Now, in the pound sterling market against the Polish zloty on June 24 on Friday, you can see that sterling decided to make a correction after the H4-D1 resistance test, although still not as strong as could be expected. We are currently in the area of ​​PLN 5.47, although the resistance itself is located at the level of PLN 5.49 – PLN 5.50, which is still a few groszy higher. In purely technical terms, the pound appears to be able to continue to generate gains. All you have to do is be patient, because the current slowdown may indicate a moment of distraction and possible consolidation.

To sum up: at the moment the chances of growth within the target move are still high, however the market may fall into a slight consolidation here before it reaches the H4 – D1 support.

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