we are neutral | 15 December 2021

Technical observation

GBP is trading with an increasing bearish bias between the supportive level 1.3184 and a resistance zone 1.3281-1.3284, my expectation is either a continuation of this bearish movement to the level 1.3184 followed by a break below it, or a loss of this downwards movement followed by a retracement to the zone mentioned above. In case price declines to the level 1,3184 and there is a clear break below it with a big red candle, wait for a correction to the broken line before you sell GBP, on the other hand, in case of retracement to the zone 1.3281-1.3284, sell a bounce within it with your take profit at 1.3184. I can only recommend bullish positions above the zone 1.3281-1.3284.

Trade recommendation

Remain flat.