03 June 2022, GBP/USD
Trade recommendation
GBP bounced within the supportive zone it established at 1.2487-1.2464 and since then it has been trading with an increasing bullish bias. I expect price to ascend towards the resistance level 1.2759 followed by either a clear break above it with a big green candle or a bounce at it followed by another correction to the zone I mentioned earlier. If you picked long positions within the zone 1.2487-1.2464 remain in the trade with your take profit at 1.2759 and stop-loss at 1.2369. In case of a clear penetration above 1.2759, wait for a pullback to it before you continue long towards the upper resistance level 1.3212.
Trade recommendation
Remain long with your take profit at 1.2759.
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