03 February 2020, GBP/USD
Technical observation
GBP went up as was expected and I still expect more of this bullish momentum towards the key resistance level 1.3516. If you bought this pair within the supportive zone 1.2984-1.2948 after a rejection, hold on to that position with your take profit at 1.3516 and stop loss at 1.2818. As long as GBP is contained above the zone 1.2984-1.2948, only bullish movements can be expected. In case there is a clear penetration below the zone 1.2984-1.2948 with a big red candle, wait for a correction to the just broken zone and a rejection within it before you pick short positions with your take profit at 1.2562.
Trade recommendation
Remain long with your take profit at 1.3516.
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