25 November 2021, GBP/USD
Technical observation
GBP declined up to the supportive level 1.3322 but could not break below it instead price bounced at the level then rose for some time. I expect a further momentum to the resistance zone 1.3465-1.3456 followed a bounce within it to sell this pair with my take profit at 1.3322 and stop loss at 1.3513. In case there is a clear penetration below the supportive level 1.3322 with a big red candle, further bearish movements of this pair can be anticipated, on the flip side, if price breaks above the zone 1.3465-1.3456 with a big green candle, I expect a surge to the upper resistance level 1.3599 after a retracement to the broken zone and a bounce within it.
Trade recommendation
Remain flat.
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