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We're long

We're long | 30 November 2020

30 November 2020, GBP/USD

We're long

Technical observation

On the 4-hour chart above, price is trading with an increasing bullish momentum above a zone 1.3303-1.3312, my expectation is continuation of this upwards movement to the resistance line 1.3478, followed by either a clear breakout above it with a big green candle, or a rejection at it. If you bought this pair within the zone mentioned above and is currently long, remain so with your take profit at 1.3478 and stop loss at 1.3261. If price breaks above the line 1.3478 with a big green candle, wait for a correction to it and a bounce before you continue long. Only bullish positions look ideal for GBP.

Trade recommendation

Remain long with your take profit at 1.3478.

Imelda Maseno
Analyst of «FreshForex» company
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