We're long towards 1.3759. | 24 December 2020

24 December 2020, GBP/USD

We're long towards 1.3759.

Technical observation

GBP pulled back to the supportive zone 1.3369-1.3336, but could not break below it. Price bounced within the zone and is currently trading with an increasing bullish bias, my expectation is a rally to the resistance line 1.3759 followed by a clear penetration above it for a further momentum to the upper side. My advice, if you bought this pair within the zone mentioned above after a bounce, remain long with your take profit at 1.3759 and stop loss at 1.3134. If this take profit is triggered and there is a clear break above it, you can anticipate a further rise in price towards the upper resistance level 1.4265.

Trade recommendation

Remain bullish with your take profit at 1.3759.

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 .