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Wait for a correction to the zone 1.3363-1.3352

Wait for a correction to the zone 1.3363-1.3352 | 27 Diciembre 2021

27 Diciembre 2021, GBP/USD

Wait for a correction to the zone 1.3363-1.3352

Technical observation

GBP rose and broke above a resistance zone 1.3363-1.3352 with a big green candle; it then went up with another big green candle before declining slightly. Right now price is still trading with an increasing bullish bias however, I expect a loss of this upwards movement followed by a retracement to the just broken zone and bounce within it. My advice, remain flat and wait for a correction to the zone 1.3363-1.3352 then buy a bounce within it with your take profit at 1.3499 and stop loss at 1.3287. In case there is a clear break above the level 1.3499 with a big green candle, I expect the value of this pair to ascend towards the level 1.3685.

Trade recommendation

Wait for a correction to the zone 1.3363-1.3352 to buy GBP.

Imelda Maseno
Analyst of «FreshForex» company
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