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Remain long

Remain long | 10 April 2020

10 April 2020, GBP/USD

Remain long

Technical observation

GBP is rallying above a supportive zone 1.2209-1.2173. Yesterday price rose as I had predicted and this upwards movement can still be expected towards the resistance zone 1.2770-1.2746 followed by a breakout above it. If you bought this pair within the zone 1.2209-1.2173 after a rejection, remain long with your take profit at 1.2746 and stop loss at 1.1974. If you are currently neutral with this pair, remain so and wait for either another correction to the zone 1.2209-1.2173, or a clear breakout above the zone 1.2770-1.746 to trade this pair. Short positions may only be recommended below 1.2209-1.2173.

Trade recommendation

Remain bullish with your take profit at 1.2746.

Imelda Maseno
Analyst of «FreshForex» company
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