07 Tháng hai 2022, GBP/USD
Technical observation
GBP retraced to the resistance zone 1.3610-1.3852 but could not break above it instead price bounced below the zone and last Friday it declined with a big red candle, I expect a continuation of this downwards movement to the supportive level 1.3206 followed by either a bounce at it or a clear breakout below it with a big red candle. If you picked short positions within the zone 1.3610-1.3852 after a bounce, remain short with your take profit at 1.3206 and stop loss at 1.3746. In case of a breach below the level 1.3206 with a big red candle, wait for a retracement to it before you continue short with this pair towards the lower supportive level 1.2688.
Trade recommendation
Remain short with your take profit at 1.2688.
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