Wait | 03 January 2022
03 January 2022, GBP/USD
Technical observation
GBP rose above the resistance zone it established at 1.3511-1.3498 with a big green candle, my expectation is a loss of this upwards movement followed a retracement to the just broken zone and a rejection within it to pick long positions with my take profit at 1.3685 and stop loss at 1.3447. As long as this pair is sustained above the zone I have mentioned above, I can only recommend bullish positions for this pair. If this pair rises above the resistance level 1.3685 with a big green candle, I anticipate further bullish movements towards the upper key level 1.3838. Right now remaining neutral is ideal than picking any positions.
Trade recommendation
Remain flat.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
