Remain long | 05 June 2020

Technical observation

GBP is trading with an increasing bullish momentum below a resistance zone it established around 1.2781-1.2753. In case you bought this pair within the supportive zone 1.2215-1.2194 and is currently long with this pair, remain so and pick your profits at the key line 1.2753. However, if you are currently neutral with GBP, wait for a clear penetration above the zone 1.2781-1.2753 with big green candle followed by a correction and a bounce within it to buy GBP with your take profit at the key level 1.3290. On the 4-hour chart above only bullish positions look ideal and I can recommend.

Trade recommendation

Remain long with your take at 1.2753.