23 December 2021, GBP/USD
Technical observation
On the 4 hour chart above, price retraced to the resistance zone 1.3363-1.3352 as I had previously predicted and right now it is trading within it with an increasing bullish bias, my expectation is a loss of this upwards movement followed by a rally to the lower side, on the other hand price can still break above the zone 1.3363-1.3352 with a big green candle. In case of bounce within the zone mentioned above, pick short positions within it with your take profit at 1.3194 and stop loss at 1.3425. In case there a clear breakout above the same zone with a big green candle, I expect price to surge to the resistance level 1.3496 after a correction to the broken zone.
Trade recommendation
Sell GBP now within the zone 1.3363-1.3352 with your take profit at 1.3194.
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