29 January 2021, GBP/USD
Technical observation
For two consecutive weeks now GBP has been trading with an increasing bullish bias, I expect this pair to rise steadily to the resistance line 1.4249 followed by either a clear breakout above it with a big green candle, or a bounce at it followed by a correction to the supportive zone 1.3461-1.3409. If you bought this pair within the zone mentioned above and is currently long, remain lone with your take profit at 1.4249 and stop loss at 1.3047. If this take profit is triggered and there is a clear breakout above it with a big green candle, I expect a further surge to the upper resistance level indicated at 1.5022.
Trade recommendation
Remain long with your take profit at 1.4249.
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