Looking to sell within 1.3588-1.3564 | 30 December 2021

Technical observation

GBP is trading with an increasing bullish bias below the resistance 1.3588-1.3564, my expectation is a further rise to the zone mentioned above followed by a rejection within it to pick short positions with my take profit at 1.3192 and stop loss at 1.3683. In case of a clear breakout below the level 1.3192 with a big red candle, i expect the value of this pair to plummet further towards the lower supportive level 1.2854. If there is a clear breakout above the zone 1.3588-1.3564 with a big green candle, I expect a pullback to the just broken zone and a rejection within it followed by a momentum to the resistance level 1.3982.

Trade recommendation

Sell GBP within 1.3588-1.3564 with your take profit at 1.3192.