21 December 2020, GBP/USD
Technical observation
Just like EUR, GBP is retracing to a zone 1.3409-1.3340 it recently broke above with a big green candle and as long as price is contained above this zone, you can only expect bullish movements of price. My expectation is a bounce within the zone for a possible surge to the upper side. My advice, wait for a correction to the zone mentioned above and a rejection within it to buy GBP with your take profit at 1.4249 and stop loss at 1.3055. In case of a clear breakout above the line 1.4249 with a big green candle, wait for a correction to the line before you continue long with this pair towards the resistance line 1.5022.
Trade recommendation
Buy a bounce within 3409-1.3340 with your take profit at 1.4249.
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