25 January 2021, GBP/USD
Technical observation
On the daily chart above, price is trading with an increasing bearish momentum above a supportive zone it established at 1.3400-1.3352; my expectation is a loss of this bearish movement within the zone mentioned above for a rally to the upper side. My advice, remain flat temporarily and wait for a correction to the zone 1.3400-1.3352and a rejection within it to buy GBP with your take profit at the resistance line 1.4001 and stop loss at 1.3130. If this take profit is triggered and there is a clear breakout above it with a big green candle, I expect the value of this pair to plummet further to the upper side.
Trade recommendation
Remain neutral temporarily.
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