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We are long within the zone 1.3435-1.3354

We are long within the zone 1.3435-1.3354 | 19 January 2022

19 January 2022, GBP/USD

We are long within the zone 1.3435-1.3354

Technical observation

Since the beginning of the week the value of the pair on the chart above has been trading with an increasing bearish bias, this bearish movement is a pullback to the zone 1.3435-1.3354 that this pair previously rose above with a big green candle. I expect a rally to the same zone followed by a rejection within it to buy GBP with my take profit at 1.4239 and stop loss at 1.3053. Should there be a clear break above the level 1.4239, I anticipate further momentum of price to the upper resistance level 1.5535. As long as the value of this pair remains above the zone 1.3435-1.3354, I can only recommend picking long positions.

Trade recommendation

Buy GBP within the zone 1.3435-1.3354 with your take profit at 1.4239.

Imelda Maseno
Analyst of «FreshForex» company
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