Remain bullish | 07 November 2023

Technical observation

Last week the value of the pair above rose with a big green candle and this week it opened bullish again; if GBP is sustained above the level 1.2030, I expect the price to ascend even further. If you already picked bullish positions with this pair, remain in the trade with your take profit at 1.4168 and stop-loss at 1.1602. In case there is clear breakout above the zone 1.4168-1.4253 I expect the price to rally further upwards towards the key level 1.7196, contrary should there be a clear breach below the level 1.2030 with a big red candle, I anticipate a possible plunge towards the supportive level 1.0353.

Trade recommendation

Remain bullish with your take profit at 1.4168.