16 December 2021, GBP/USD
Technical observation
On the hourly chart above GBP is trading with an increasing bullish bias below the resistance zone 1.3271-1.3270, this upward movement is a correction to the zone mentioned above and I expect a loss of it within the same zone followed by a rally to the lower side , however, price can still penetrate above the same zone with a big green candle, if this is the case I expect a surge to the resistance level 1.3363 after a correction to the broken zone but if GBP is sustained below the zone 1.3271-1.3270, I expect it to plummet to the supportive level 1.3184. My advice, sell a bounce within the zone mentioned above with your take profit at 1.3184 and stop loss at 1.3298.
Trade recommendation
Sell GBP within 1.3271-1.3270 with your take profit at 1.3184.
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