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Wait for a pullback to the zone 1.3469-1.3412

Wait for a pullback to the zone 1.3469-1.3412 | 03 Noviembre 2021

03 Noviembre 2021, GBP/USD

Wait for a pullback to the zone 1.3469-1.3412

Technical observation

Last week the pair on the chart above went down with a big a red candle and this week price continues to rally further downwards. This bearish movement is a correction to the supportive zone 1.3469-1.3412 and I expect price to continue to the same zone followed by a rejection within then a momentum to the upper side. My advice, pick long positions within the zone 1.3469-1.3412 after a bounce with your take profit at 1.4627 and stop loss1.3132, however, right now as at it is on the chart above, remaining neutral with this pair is ideal than picking any positions. I can only recommend short positions below the supportive zone 1.3469-1.3412.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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