We're bearish towards 1.3526 | 19 tháng Giêng 2021

19 tháng Giêng 2021, GBP/USD

We're bearish towards 1.3526

Technical observation

On the hourly chart above, price pulled back to the resistance zone it established at 1.3609-1.3605 and could not break below it. GBP is currently trading with an increasing bearish bias and I expect this downwards movement to continue to the supportive level 1.3526 followed by a clear breakout below it with a big red candle. If you went short with this pair within the zone mentioned above after a bounce, remain in the trade with your take profit at 1.3526 and stop loss at 1.3634. In case of a break above the zone 1.3609-1.3605 with a big green candle, wait for a correction to it before you pick long positions.

Trade recommendation

Remain short with your take profit at 1.3526.

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Imelda Maseno
Analyst of «FreshForex» company
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