We're bullish towards 1.3332. | 01 June 2020

Technical observation

After a rejection within the supportive zone GBP established around 1.2230-1.2194, price has been rising steadily and I expect this upwards movement to continue to the resistance zone 1.2781-1.2753. If you bought GBP within the zone 1.2230-1.2194 after a rejection, remain long with your take profit at 1.2753 and stop loss at 1.1999. If price hit this take profit and there is clear break above it with a big green candle, price could surge further to the upper side towards the resistance 1.3332. As it is on the daily chart, as long as price is contained above 1.2230-1.2194 we can only anticipate bullish movements.

Trade recommendation

Remain long with your take profit at 1.3332.