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pick your profits within 1.2770-1.2746.

pick your profits within 1.2770-1.2746. | 01 May 2020

01 May 2020, GBP/USD

Technical observation

GBP continues to rise and is currently rallying below the zone 1.2770-1.2746. My expectation is a rise to the zone followed by either a clear breakout above it with a big green candle, or a rejection at it followed by a correction to the supportive zone 1.2209-1.2173. 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 1.1978. If price reaches this take profit and penetrates above it, wait for a correction to the just broken and a bounce within it to buy GBP with your take profit at 1.3312 and stop loss at 1.2574.

Trade recommendation

We are long to the zone 1.2770-1.2746.

Imelda Maseno
Analyst of «FreshForex» company
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