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Wait | 01 November 2021

01 November 2021, GBP/USD

Technical observation

GBP is trading with an increasing bearish bias between a supportive zone it established at 1.3469-1.3412 and a resistance level 1.4245, I expect a continuation of this bearish movement to the zone I have mentioned above followed by a rejection within it and a surge to the upper side. I would advise you remain neutral for now and wait for a correction to the zone 1.3469-1.3412 then buy a bounce within it with your take profit at 1.4245 and stop loss at 1.3132. In case of a clear breakout below the zone 1.3469-1.3412 with a big red candle, I expect a surge to the lower side after a correction to the just broken zone.

Technical observation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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