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Still long towards 1.3208

Still long towards 1.3208 | 06 March 2020

06 March 2020, GBP/USD

Technical observation

Since its rejection within the supportive zone it established around 1.2270-1.2746, GBP has been rising steadily and I still expect more of this bullish movement today towards the resistance level 1.3208. If you bought this pair within 1.2270-1.2746 after a bounce, remain long with your take profit at 1.3208 and stop loss at 1.2598. In case this take profit is hit and there is a clear break above it with a big green candle, further bullish movements can be expected. If you are currently neutral with this pair remain so and wait for either a correction to 1.2270-1.2746 or a break above 1.3208 to buy GBP.

Trade recommendation

Remain long with your take profit at 1.3208.

Imelda Maseno
Analyst of «FreshForex» company
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