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Wait for a correction to the zone 1.3435-1.3354

Wait for a correction to the zone 1.3435-1.3354 | 25 Enero 2022

25 Enero 2022, GBP/USD

Wait for a correction to the zone 1.3435-1.3354

Technical observation

Last week, the pair on the chart above retraced to the supportive zone 1.3435-1.3354 but it could not reach it, this week price opened bearish and I expect a continuation of this downwards movement to the zone I have mentioned above followed by a rejection within it to pick long positions with my take profit at 1.4239 and stop loss at 1.3058. As long as GBP is contained above the zone 1.3435-1.3354, I can only recommend bullish positions for this pair, however, in case of a clear breakout below the same zone with a big red candle, wait for a correction to the broken zone then sell a bounce within it with your take profit at 1.2028.

Trade recommendation

Wait for a correction to the zone 1.3435-1.3354 to buy GBP.

Imelda Maseno
Analyst of «FreshForex» company
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