24 November 2020, GBP/USD
Technical observation
Recently, GBP penetrated above a resistance level 1.3279 and is still trading with an increasing bullish momentum. I expect a correction to the same line followed by a bounce at it for a surge to the upper side. My advice, remain flat and wait for a correction to the line 1.3279 and a bounce at it to buy GBP with your take profit at 1.3621. If this take profit is hit and there is a clear breakout above it with a big green candle, you can anticipate a further momentum to the upper side. As it is on the 4-hour chart above, as long as price is contained above 1.3279, you can only anticipate bullish price movements.
Trade recommendation
Remain flat.
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