01 December 2020, GBP/USD
Technical observation
GBP is trading with an increasing bullish momentum above a supportive zone it established around 1.3313-1.3303. My expectation is a continuation of this upwards momentum to the resistance line 1.3478 followed by a clear penetration above it for a further surge to the upper side. If you bought this pair within the zone mentioned above after a bounce, remain long with your take profit at 1.3478 and stop loss at 1.3245. If this take profit is triggered and there is a clear breakout above it with a big green candle, you can anticipate a further momentum to the upper side after a correction to just broken line.
Trade recommendation
Remain bullish with your take profit at 1.3478.
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