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Remain long

Remain long | 14 April 2020

14 April 2020, GBP/USD

Technical observation

Since its rejection within the supportive 1.2209-1.2173, GBP has been rising steadily towards the resistance zone 1.2770-1.2746. I expect this bullish movement to continue up to the zone 1.2770-1.2746 followed by a clear penetration above it. If you bought this pair within the zone 1.2209-1.2173 after a bounce, remain long with your take profit at 1.2746 and stop loss at 1.1974. However, if you are currently flat with this pair, remain so and wait for either another correction to the zone 1.2209-1.2173 and a bounce or a clear breakout above 1.2770-1.2746 and a retracement to it to buy this pair.

Trade recommendation

Remain long with your take profit at 1.2746.

Imelda Maseno
Analyst of «FreshForex» company
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