Wait | 06 April 2020
06 April 2020, GBP/USD
Technical observation
GBP is trading above a supportive zone 1.2059-1.2027, my expectation is a decline to the zone followed by a bounce within it for bullish price movements. Wait for a pullback to the above-mentioned zone and a rejection within it to buy GBP with your take profit at 1.2746 and stop loss at 1.1804. Should there be a clear breakout above the zone 1.2770-1.2746, wait for a pullback to the just broken zone and a rejection within it to continue long with your take profit at 1.3312 and stop loss at 1.2513. Right now as it is on the daily chart above, only long positions look ideal and can be recommended.
Trade recommendation
Wait for a correction to buy GBP.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
