Remain long

13 Januar 2021, GBP/USD

Remain long

Technical observation

Last week GBP retraced to the supportive zone it established around 1.3461-1.3409 but could not break below it. Price bounced within the zone and this week it has been trading with an increasing bullish bias. As long as this pair is contained above the zone 1.3461-1.3409, I expect it to rise tremendously to the upper side to the resistance line 1.4249 followed by a clear breakout above it with a big green candle for a further surge to the upper side. If you bought GBP within the zone mentioned above after a bounce, remain long with your take profit at 1.4249 and stop loss at 1.3125.

Trade recommendation

Remain bullish with your take profit at 1.4249.

Imelda Maseno
Analyst of «FreshForex» company
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