24 December 2020, GBP/USD
Technical observation
GBP pulled back to the supportive zone 1.3369-1.3336, but could not break below it. Price bounced within the zone and is currently trading with an increasing bullish bias, my expectation is a rally to the resistance line 1.3759 followed by a clear penetration above it for a further momentum to the upper side. My advice, if you bought this pair within the zone mentioned above after a bounce, remain long with your take profit at 1.3759 and stop loss at 1.3134. If this take profit is triggered and there is a clear break above it, you can anticipate a further rise in price towards the upper resistance level 1.4265.
Trade recommendation
Remain bullish with your take profit at 1.3759.
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