Remain bullish towards | 20 November 2020

20 November 2020, GBP/USD

Remain bullish towards

Technical observation

This week GBP has been trading with an increasing bullish momentum and I expect it to close bullish. If you are currently long with GBP, remain so and pick your profits now at 1.3305. Next week, I anticipate either a clear breakout above the resistance level 1.3305 with a big green candle, or, a pullback to the supportive zone 1.2634-1.2571. In case of a clear breakout above 1.3305, wait for a retracement to it and a rejection before you pick long positions and should there be a correction to the zone 1.2634-1.2571; buy this pair within it after a bounce. I can only recommend bullish positions for the pair above.

Trade recommendation

Remain bullish with your take profit at 1.3305.

Imelda Maseno
Analyst of «FreshForex» company
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