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Buy a bounce within 1.3461-1.3409

Buy a bounce within 1.3461-1.3409 | 29 December 2020

29 December 2020, GBP/USD

Buy a bounce within 1.3461-1.3409

Technical observation

The pair on the weekly chart above is trading with an increasing bearish momentum within a supportive zone it established at 1.3461-1.3409, I expect a loss of this downwards movement within the same for a possible rally to the upper side. My advice, buy a bounce within the zone mentioned above with your take profit at the level 1.4249 and stop loss at 1.3128. In case of a break above the line 1.4249 with a big green candle, the value of this pair could plummet further to the upper side to the level 1.5022. As it is on the chart above, only bullish positions look ideal and can be recommended.

Trade recommendation

Buy a bounce within 1.3461-1.3409 with your take profit at 1.4249.

Imelda Maseno
Analyst of «FreshForex» company
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