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.
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