Wait | 08 December 2020

Technical observation

On the daily chart above, price is correcting to a supportive level it stablished around 1.3279, my expectation is a rejection of this downwards movement at the same line for a momentum to the upper side towards 1.3604. My advice, wait for a correction to the line 1.3279 and a rejection at it to buy GBP with your take profit at 1.3604 and stop loss at 1.3104. In case of a clear breakout above the line 1.3604 with a big green candle, you can anticipate a further surge to the upper side after a correction to the just broken line followed by a bounce at it. Only bullish position look ideal for the pair above.

Trade recommendation

Wait for a retracement to buy GBP.