Wait | 17 November 2020

Technical observation

GBP is trading with an increasing bullish momentum below a resistance line it established around 1.3279. I expect this bullish movement to continue to the key level followed by a clear breakout above it with a big green candle for further a further momentum to the upper side. My advice, remain flat and wait for a clear break above the line 1.3279 followed by a retracement to it and a bounce to buy GBP with your take profit at 1.3656 and stop loss at 1.3113. In case there is a clear breakout above the level 1.3656, you can expect the value of this pair to plummet further to the upper side.

Trade recommendation

Wait for a breakout above 1.3279 to buy GBP.