21 December 2021, GBP/USD
Technical observation
Last week the value of the pair on the chart above went down and closed bearish, this week it is still showing signs of further bearish movements, however, despite this movement to the lower side, I expect a momentum to the resistance zone 1.3356-1.3292 followed by a bounce within it. My advice, remain neutral and wait for a correction to the zone mentioned above then short GBP within it with your take profit at 1.2111 and stop loss at 1.3687. If price breaks below the key level 1.2111 with a big red candle, I expect it to descend further to the lower supportive level 1.1655 after a retracement to the broken line.
Trade recommendation
Remain neutral.
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