Long towards 1.3516 | 21 January 2020

Technical observation

GBP is still trading above the supportive zone it established around 1.2984-1.2948, yesterday’s candle went up and i still expect more of this bullish movement today towards the key level 1.3516. In case you bought this pair within the zone 1.2984-1.2948 after a rejection of price, remain long with your take profit at 1.3516 and stop loss at 1.2821. Should price penetrate below the zone 1.2984-1.2948 with a big red candle instead of moving further upwards then a surge to the lower side towards the supportive level 1.2562 can be expected. Right an escalation towards the level 1.3516 is what we expect.

Trade recommendation

Remain long with your take profit at 1.3516.