22 February 2021, GBP/USD
Technical observation
For several weeks now, GBP has been rising steadily towards a resistance line 1.4249. I expect a rejection of price at the same line followed by another correction to the supportive zone 1.3461-1.3409 to buy GBP. In case of a clear breakout above the line 1.4249 with a big green candle, you can expect this pair surge to the upper side towards the key level 1.5022. My advice, if you are currently long with this pair, pick your profit at the resistance line 1.4249, however, if you are currently flat, remain so and wait for another correction to the zone 1.3461-1.3409 and a bounce within it to buy GBP.
Trade recommendation
Remain bullish with your take profit at 1.4249.
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