29 December 2021, GBP/USD
Technical observation
GBP is trading with an increasing bearish momentum between a supportive zone 1.3363-1.3352 and a resistance level 1.3497, I expect a continuation of this bearish movement to the zone mentioned above followed by a rejection within it to pick long positions with my take profit at 1.3497 and stop loss at 1.3283. If price hits this take profit and breaks above it with a big green candle, I expect the value of this pair to soar towards the upper resistance level 1.3686. On your way upwards the key levels to look for include 1.3497, 1.3685 and the level 1.3828.
Trade recommendation
Wait for a correction to the zone 1.3363-.3352 to buy GBP.
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