14 November 2022, GBP/USD
Technical observation
On the chart above, price pulled back to the resistance zone 1.1830-1.1856 but did not break above it, instead it was sustained below this zone and as long as it remains below it, I expect the value of GBP to rally to the lower side. If you sold this pair within the zone indicated above after a bounce, I advise that you remain in the trade with your take profit at 1.0966 and stop-loss at 1.2053. A further surge towards the supportive level 1.0397 can be expected in case of a clear break below 1.0966 with a big red candle, followed by a correction and a rejection of price at it. I can only recommend bullish positions above the zone 1.1830-1.1856.
Technical observation
Remain short with your take profit at 1.0966.
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