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We're long towards 1.2746

We're long towards 1.2746 | 23 April 2020

23 April 2020, GBP/USD

We're long towards 1.2746

Technical observation

GBP retraced to the supportive zone 1.2209-1.2173 as i had stated in the previous review and it was rejected at it. Today, bullish movements towards the resistance zone 1.2770-1.2746 is expected followed by a possible breakout above it. If you bought this pair within the zone 1.2209-1.2173 after a bounce, remain in the trade with your take profit at 1.2746 and stop loss at 1.1947. In case this take profit is reached and there is a clear penetration above it with a big green candle, a further rise towards the upper resistance line 1.3312 will be expected. On the chart above, only long positions look ideal and can be recommended.

Trade recommendation

Remain long with your take profit at 1.2746.

Imelda Maseno
Analyst of «FreshForex» company
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