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we are flat temporarily

we are flat temporarily | 23 November 2021

23 November 2021, GBP/USD

we are flat temporarily

Technical observation

On the 4 hour chart above, price is retracing to a resistance zone it established at 1.3415-1.3408, I expect a rejection of the current bullish movement within the zone followed by a momentum to the lower side. Right now, i would advise you remain flat temporarily and wait for a correction to the zone I have mentioned above then sell a bounce within it with your take profit at 1.3352 and stop loss at 1.3513. On the chart above, as long as price is contained below the zone 1.3415-1.3408, I can only recommend bearish positions for this pair. Continue short in case of clear breakout below the supportive level 1.3352.

Trade recommendation

Remain flat temporarily.

Imelda Maseno
Analyst of «FreshForex» company
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