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Wait | 11 November 2021

11 November 2021, GBP/USD

Technical observation

Yesterday GBP is declined slightly below the supportive zone 1.3412-1.3442 and today I expect a continuation of this bearish movement and a clear breakout below the zone with a big red candle. My advice, remain neutral and wait for a clear breakout below the zone 1.3412-1.3442 and a second correction to it to sell GBP with your take profit at 1.2666 and stop loss at 1.3609. On the daily chart above, as long as price is contained below the zone 1.3412-1.1.3442, I can only recommend bearish positions for this pair. On your way downwards the key levels to look for include 1.2666, 1.2020 and the lower supportive level 1.1412.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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