29 November 2021, GBP/USD
Technical observation
On Friday price rose above the resistance level 1.3349 with a big green candle but it was not sustained above it, currently this pair is trading below the same level with an increasing bullish bias and I expect a rejection of it at the same line followed by a surge to the lower side. My advice, sell GBP at the level 1.3349 after a bounce with your take profit at 1.3277 and stop loss at 1.3378. In case there is a clear breakout above the resistance line 1.3349 with a big green candle, wait for a correct to it before picking bullish positions towards the zone 1.3415-1.3408, on the other hand, in case of a clear break below the level 1.3277, I expect price to plummet to the lower side.
Trade recommendation
Sell GBP at 1.3349 with your take profit at 1.3277.
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