18 December 2020, GBP/USD
Technical observation
GBP retraced to the supportive zone 1.3517-1.3502 and could not break below it; price bounced at the same zone and is currently trading with an increasing bullish bias. I expect this bullish movement to continue to the resistance line 1.3624 followed by a possible penetration above it with a big green candle. My advice, if you bought GBP within the zone mentioned above after a bounce, remain long with your take profit at 1.3624 and stop loss at 1.3436. As it is on the chart above, as long as price is contained above the supportive zone 1.3517-1.3502, you can only anticipate a momentum of price to the upper side.
Trade recommendation
Remain long with your take profit at 1.3624.
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