Wait for a correction to the zone 1.3349-1.3287 | 14 December 2021

Technical observation

On the weekly chart above price is trading below the resistance zone it established at 1.3349-1.3287 with an increasing bearish bias, however, I expect a loss of this bearish movement followed by a retracement to the zone mentioned above. My advice, remain neutral and wait for a correction to the zone 1.3349-1.3287 then sell a bounce within it with your take profit at 1.2024 and stop loss at 1.3612. In case of a clear breakout below the level 1.2024 with a big red candle, I expect a further surge towards the level 1.1406. As long as GBP is sustained below the resistance zone 1.3349-1.3287, you can anticipate bearish movements of this pair.

Trade recommendation

Remain flat.