22 января 2020, GBP/USD
Technical observation
Yesterday GBP rose as I had predicted and I still expect more of this upwards movement today. If you bought this pair within the supportive zone 1.2984-1.2848, remain long with your take profit at 1.3516 and stop loss at 1.2818. However, in case there’s a clear penetration below the zone 1.2984-1.2848 with a big red candle, wait for a pullback to the just broken zone and a rejection within it to confirm possible bearish rally of price before you sell GBP with your take profit at 1.2562 and stop loss at 1.3117. Right now as long as the value of GBP is contained above the zone 1.2984-1.2848, only long positions can be expected.
Trade recommendation
Remain long with your take profit at 1.3516.
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