Long GBP above 1.2748 towards 1.3489 | 03 May 2017
03 May 2017, GBP/USD
Technical Observation:
Nothing has changed much since yesterday, although I expected a possible second retracement towards 1.2748, GBP could proceed to the upper side without retracing for the second time to this support line. On the daily chart, long positions seems ideal and less risky in the long run. My advice, if you went long on the first retracement towards 1.2748, leave this position open. If not, you could place a pending buy limit order around 1.2748 just in case the price retrace to this zone later.
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