We're long towards 1.2746 | 30 April 2020

Technical observation

Since its rejection within the supportive zone 1.2209-1.2173, GBP has been rising steadily and I still expect further bullish movements towards the resistance zone 1.2770-1.2746. If you bought this pair within the zone mentioned above after a bounce, remain long with your take profit at 1.2746 and stop loss at 1.1978. In case of a clear breakout above the zone 1.2770-1.2746 with a big green candle, I expect further bullish price movements towards the key level 1.3312. However, should there be a penetration below the zone 1.2209-1.2173, we expect bearish price rally towards the supportive level 1.1468.

Trade recommendation

Remain long with your take profit at 1.2746