Remain neutral | 05 January 2022
05 January 2022, GBP/USD
Technical observation
On the chart above, I anticipated a rejection of price within the resistance zone 1.3435-1.3354 followed by a surge to the lower side, however this pair rose and broke above the same zone with a big green candle and as long as it stays above this zone, I can only recommend bullish positions for this pair. Right now I would advise that you wait for a correction to the broken zone then buy a bounce within it with your take profit at 1.4239 and stop loss at 1.3068. In case of a clear breakout above the key level 1.4239 with a big green candle, I expect the value of this pair to spike towards the upper resistance level 1.5535.
Trade recommendation
Remain neutral.
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.
