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Buy a bounce from 1.20290-1.19530 with your take profit at 1.24110.

Buy a bounce from 1.20290-1.19530 with your take profit at 1.24110. | 13 August 2019

13 August 2019, GBP/USD

Buy a bounce from 1.20290-1.19530 with your take profit at 1.24110.

Technical Observation

GBPUSD is currently rallying around an untested support zone 1.19530-1.120290. This is a developing key zone and while price remains above it, we're waiting for a clear bounce from it to pick a low risk buy order towards the the turn coat Resistance zone marked 1.24110-1.24870. Should price breakout above this resistance zone, then we'll expect further momentum to the upperside towards the next verified resistance zone marked 1.27170-1.27930. As it is, only a break below 1.19530 will attract a buy.

Trade Recommendations:

Buy a bounce from 1.20290-1.19530 with your take profit at 1.24110.

Imelda Maseno
Analyst of «FreshForex» company
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