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We are neutral

We are neutral | 17 January 2022

17 January 2022, GBP/USD

We are neutral

Technical observation

On the weekly chart above price broke above the zone 1.3475-1.3404 and since then it has been trading with an increasing bullish bias, however, I expect a loss of this upwards movement followed by a correction to the broken zone and a bounce within it to pick long positions with my take profit at 1.4636 and stop loss at 1.3098. In case of a clear penetration above the level 1.4636 with a big green candle, further bullish movements of this pair towards the level 1.5882 can be expected. As it is on the chart above, as long as the value of GBP remains above the zone 1.3475-1.3404 I can only recommend bullish positions for this pair.

Trade recommendation

Remain flat and wait for a correction to the zone 1.3475-1.3404.

Imelda Maseno
Analyst of «FreshForex» company
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