We're bullish towards 1.3692 | 20 January 2021

20 January 2021, GBP/USD

We're bullish towards 1.3692

Technical observation

Yesterday price did not move to the lower side as I had anticipated, instead, it rose and penetrated above the resistance zone 1.3609-1.3605 with a big green candle. Price then pulled back to the just broken zone and bounced within it before rallying upwards significantly hitting my stop loss. I expect this upwards movement to continue to the resistance line 1.3692 followed by a possible break above it. If you bought this pair within the zone 1.3609-1.3605 after a bounce, remain long with your take profit at 1.3692 and stop loss at 1.3583. On the hourly chart above, I can only recommend bullish positions.

Trade recommendation

Remain long with your take profit at 1.3692.

One of the highest demand products in FreshForex is invest-portfolios. Invest-portfolio is an optimal tool for both beginners and experienced traders due to its high efficiency and low work efforts.
This is the fifth portfolio developed by FreshForex specialists. In 2020, we proposed traders four investment portfolios, each of which demonstrated positive results. The total return was 71.5%.
2 steps to get the Invest-portfolio:
1. Fund your trading account with $50 or more from January 18 to 29, 2021.

2. Send a request to school@freshforex.com with your account number funded.
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