26 November 2020, GBP/USD
Technical observation
On the weekly chart above, price is trading with an increasing bullish momentum within a resistance zone 1.3402-1.3305; my expectation is a clear breakout above the zone with a big green candle followed by a correction to it for a further rise in price. My advice, remain flat and wait for a break above the zone 1.3402-1.3305 and a correction to it to buy GBP with your take profit at 1.4244 and stop loss at 1.2910. If there is a clear penetration above the line 1.4244 with a big green candle, wait for a correction to it before you continue bullish with this pair towards the higher resistance level at 1.5018.
Trade recommendation
Wait for a breakout above 1.3402-1.3305 to buy GBP.