We are bearish towards 1.0363 | 21 November 2022

21 November 2022, GBP/USD

We are bearish towards 1.0363

Technical observation

GBP is trading with an increasing bearish bias within the resistance zone 1.1911-1.1824 and as long as it is contained below this zone, I expect a continuation of this downwards movement towards the supportive level 1.0363. If you picked short positions within the zone indicated above, I recommend that you remain in the trade with your take profit at 1.0363 and stop-loss at 1.2279, should price penetrate below the level 1.0363 with a big red candle, I expect it to plummet further to the lower side, however, if there is a clear break above the zone 1.1911-1.1824, I expect the value of GBP to rise towards the key level 1.2697.

Trade recommendation

Remain short with your take profit at 1.0363.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus