02 December 2020, GBP/USD
Technical observation
GBP penetrated above a key line 1.3279 then retraced to it and it was contained above the line indicating a possible momentum to the upper side towards the resistance level 1.3604. If you bought this pair at the support 1.3279 after a bounce, remain long with your take profit at 1.3604 and stop loss at 1.3105. At the key level 1.3604, I expect either a clear breakout above it with a big green candle for a further momentum to the upper side, or a bounce at it followed by a retracement to the key line 1.3279. For the pair on the daily chart above, only bullish positions look idea and can be recommended.
Trade recommendation
Remain long with your take profit at 1.3604.
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