Remain long | 15 January 2021

Technical observation

GBP retraced to the supportive zone it established at 1.3461-1.3409 and as long as it is contained above this zone, you can only anticipate bullish movements of price. If you bought this pair within the zone mentioned above after a bounce, remain long with your take profit at 1.4249 and stop loss at 1.3130. Should there be a clear penetration above the resistance line 1.4249 with a big green candle, I expect the value of this pair to rally further upwards to the resistance line 1.5022. On the weekly chart above as long as price is contained above the zone 1.3461-1.3409, I can only recommend d bullish positions.

Trade recommendation

Remain long with your take profit at 1.4249.