We're long | 11 December 2020

11 December 2020, GBP/USD

We're long

Technical observation

The pair on the chart above retraced to a zone 1.3281-1.3291 but could not break below it, price bounced within the same zone and since then it has been trading with an increasing bullish momentum. I expect this upwards movement to continue to the line 1.3430 followed by a clear breakout above it with a big green candle. My advice, if you bought GBP within 1.3281-1.3291 after a bounce, remain long with your take profit at 1.3430 and stop loss at 1.3223. In case of a clear breakout below the zone mentioned above with a big red candle, wait for retracement to it before you sell GBP.

Trade recommendation

Remain long with your take profit at 1.3430.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus