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Remain bullish towards 1.3402

Remain bullish towards 1.3402 | 14 December 2020

14 December 2020, GBP/USD

Remain bullish towards 1.3402

Technical observation

GBP retraced to a supportive zone 1.3305-1.3298 but could not break below it, price bounced within the zone and is currently trading with an increasing bullish momentum, my expectation is a rise to the resistance line 1.3402 followed by a clear breakout above it for a further surge to the upper side. My advice, if you bought this pair within the zone mentioned above and is currently long, remain so with your take profit at 1.3402 and stop loss at 1.3267. If this take profit is triggered and there is a clear breakout above it with a big green candle, you can expect this pair to surge further to the upper side to 1.3517.

Trade recommendation

Remain bullish with your take profit at 1.3402.

Imelda Maseno
Analyst of «FreshForex» company
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