We're flat temporarily | 10 Desember 2020

10 Desember 2020, GBP/USD

We're flat temporarily

Technical observation

GBP is trading above a supportive zone 1.3299-1.3285 with an increasing bearish bias. I expect a loss if this downwards movement within the zone followed by bullish price movements towards the key level 1.3460. My advice, remain flat temporarily and wait for a bounce within the zone mentioned above to buy GBP with your take profit at 1.3460 and stop loss at 1.3221. In case of a clear breakout above the line 1.34670 with a big green candle, wait for a correction to the just broken level and a bounce at it confirming a further surge to the upper side before you continue long with this pair.

Trade recommendation

Remain neutral temporarily.

Imelda Maseno
Analyst of «FreshForex» company
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