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Looking to buy within 1.3604-1.3592

Looking to buy within 1.3604-1.3592 | 13 January 2022

13 January 2022, GBP/USD

Looking to buy within 1.3604-1.3592

Technical observation

Since it rose above the zone 1.3604-1.3592, GBP has been rallying steadily towards the resistance level 1.3824, however, I expect a loss of this upwards movement followed by a correction to the zone I have mentioned above and a rejection within it to pick long positions with my take profit at the level 1.3824 and stop loss at 1.3536. In case of a clear breakout above the level 1.3824 with a big green candle, further bullish movements can be anticipated after a retracement to the broken line. The value of the pair on the chart above is moving on a general upward trend therefore I can only recommend picking bullish positions.

Trade recommendation

Wait for a correction to the zone 1.3604-1.3592 to buy GBP.

Imelda Maseno
Analyst of «FreshForex» company
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