Long GBP around 1.2748 towards 1.3489. | 02 May 2017
02 May 2017, GBP/USD
Technical Observation:
Recently, GBP pullback to the lower side and could extend lower today. The support line 1.2748 remains very significant unless its breached with a big red candle. On the daily chart above, bulls are still in control thus it may be too risky to to short GBP unless 1.2748 is broken to the lower side. My advice, if you went long following the first retracement towards 1.2748 leave this positions, if not, wait for the second pullback to this line to re-buy GBP around 1.2748 with SL slightly below 1.2748 and TP fixed at 1.3489.
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