Buy a bounce within the zone 1.3435-1.3354 | 14 January 2022

Technical observation

For the past three weeks, GBP has been trading with an increasing bullish bias, the currently candle is also rallying upwards however, I expect a loss of this bullish movement followed by a correction to the zone 1.3435-1.3354. My advice, wait for a correction to the zone I have mentioned above then buy a bounce within it with your take profit at 1.4239 and stop loss at 1.3058. In case of a clear breakout above the resistance level 1.4239 with a big green candle, I expect the value of the pair on the weekly chart above to ascend further towards the upper resistance level 1.5535. I can only recommend short positions below 1.3435-1.3354.

Trade recommendation

Wait for a correction to the zone 1.3435-1.3354 to buy GBP.