19 November 2020, GBP/USD
Technical observation
On the hourly chart above, price is retracing to a supportive zone it established around 1.3229-1.3223. My expectation is a rejection of this bearish momentum within the above-mentioned zone for a momentum to the upper side. My advice, wait for a correction to the zone 1.3229-1.3223 and a bounce within it to buy GBP with your take profit at 1.3302 and stop loss at 1.3188. In case of a clear penetration above the line 1.3302 with a big a big green candle, the value of this pair could plummet further to the upper side to1.3302. As it is on the chart above, I can only recommend bullish positions.
Trade recommendation
Buy a bounce within the zone 1.3229-1.3223.
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