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Wait | 03 January 2022

03 January 2022, GBP/USD

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Technical observation

GBP rose above the resistance zone it established at 1.3511-1.3498 with a big green candle, my expectation is a loss of this upwards movement followed a retracement to the just broken zone and a rejection within it to pick long positions with my take profit at 1.3685 and stop loss at 1.3447. As long as this pair is sustained above the zone I have mentioned above, I can only recommend bullish positions for this pair. If this pair rises above the resistance level 1.3685 with a big green candle, I anticipate further bullish movements towards the upper key level 1.3838. Right now remaining neutral is ideal than picking any positions.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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