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Remain long

Remain long | 29 April 2020

29 April 2020, GBP/USD

Remain long

Technical observation

GBP is trading with an upward trend above a supportive zone 1.2406-1.2400 with an increasing bullish momentum. If you bought GBP within the zone mentioned above after a rejection, remain long with your take profit at 1.2581 and stop loss at 1.2361. In case price hit this take profit and there is a clear breakout above it with a big green candle, continue long with this pair towards the resistance line1.2642. However, in case of a clear breakout below the supportive zone 1.2406-1.2400 with a big red candle and a correction to it, we expect possible bearish price movements towards the level 1.2306.

Trade recommendation

Remain long with your take profit at 1.2581.

Imelda Maseno
Analyst of «FreshForex» company
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