Buy a break above 1.2990 with your take profit at 1.3360. | 03 December 2019

Technical Observation

Yesterday, GBPUSD rallied to the upperside but is still few pips away from the 4 hours resistance level 1.2990. This is a significant level both on the higher and on the lower time frames. While the price does not clear break and close above this line, I choose to remain on the sidelines, But in case the price breaks and closes above this line, 1.2990, then this will give us an ideal place to pick a long term buy order towards 1.3360. And in case the price rallies to the lowerside, then only a break below the dynamic supportive MA will attract a sell.

Trade Recommendations:

Buy a break above 1.2990 with your take profit at 1.3360.