We are flat | 11 January 2022
11 January 2022, GBP/USD
Technical observation
On the 4 hour chart above, GBP has been rising steadily towards the upper resistance zone 1.3604-1.3592. For the past two consecutive hours, the value of this pair has been trading with an increasing bullish bias and it could rise even further penetrating above the zone 1.3604-1.3592. If this pair clearly breaks above the same zone with a big green candle, wait for a correction to the just broken zone then buy a bounce within it with your take profit at 1.3824. On the other hand, in case of a bounce within the zone, wait for a pullback to the supportive zone 1.3373-1.3362 then buy GBP within it with your take profit at 1.3592.
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.
