20 Januari 2021, GBP/USD
Technical observation
Yesterday price did not move to the lower side as I had anticipated, instead, it rose and penetrated above the resistance zone 1.3609-1.3605 with a big green candle. Price then pulled back to the just broken zone and bounced within it before rallying upwards significantly hitting my stop loss. I expect this upwards movement to continue to the resistance line 1.3692 followed by a possible break above it. If you bought this pair within the zone 1.3609-1.3605 after a bounce, remain long with your take profit at 1.3692 and stop loss at 1.3583. On the hourly chart above, I can only recommend bullish positions.
Trade recommendation
Remain long with your take profit at 1.3692.