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We're long

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
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