Remain long with your take profit at 1.2657. | 13 April 2023

Technical observation

Since it bounced within the supportive zone 1.2228-1.2207 GBP has been trading with an increasing bullish bias for a while now and I still expect a continuation of this upwards movement to the resistance level 1.2657. If you are currently holding bullish position with the pair above, I recommend you remain in the trade with your take profit at 1.2657 and stop-loss at 1.2111. If there is a penetration above the level 1.2657, wait for a pullback to it before you continue long with GBP, however, in case of a break below the zone I mentioned earlier, I anticipate a plunge towards the supportive levels 1.1797 and 1.1336.

Trade recommendation

Remain long with your take profit at 1.2657.