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Still long

Still long | 05 February 2020

05 February 2020, GBP/USD

Still long

Technical observation

On the daily chart above, yesterday price rose but could not reach the level 1.3516, right now it its trading just above the supportive zone 1.2984-1.2948 and I expect either bullish movements towards the line 1.3516, or a decline to the above mentioned zone followed by a clear breakout below it. If you have not picked a position yet, remain neutral, however, if you bought this pair yesterday within the zone 1.2984-1.2948 after a bounce, remain long with your take profit at 1.3516 and stop loss at 1.2821. Short positions can only be expected in case of a clear pentation below the zone 1.2984-1.2948.

Trade recommendation

Remain long your take profit at 1.3516.

Imelda Maseno
Analyst of «FreshForex» company
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