We're long

17 September 2020, GBP/USD

We're long

Technical observation

GBP is still trading with an increasing bullish bias above a supportive line 1.2695. I expect this upwards rally to continue to the resistance zone 1.3461-1.3401 followed by a clear break above it for further bullish movements of price. If you bought GBP at the support 1.2695 after a bounce, remain long with your take profit at 1.3401 and stop loss at 1.2342. In case of a break above the zone 1.3461-1.3401 with a big green candle, wait for a pullback to the just broken zone and a bounce within it confirming further bullish movements of price before you continue long with this pair towards the line 1.4249.

Trade recommendation

Remain bullish with your take profit at 1.3401.

Imelda Maseno
Analyst of «FreshForex» company
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