05 Maret 2020, GBP/USD
Technical observation
GBP yesterday rose and I still expect more of this bullish momentum to continue towards the key resistance line 1.3208. If you bought GBP within the supportive zone it established around 1.2770-1.2746 after a retracement and a rejection within it, remain long with your take profit at 1.3208 and stop loss at 1.2583. However, should there be a clear breakout below the zone 1.2770-1.2746 with a big red candle, then a possible surge to the lower side can be anticipated after a correction to it and a rejection. On your way downwards, the key levels to look for include1.2357 and 1.1955. Right now remain long.
Trade recommendation
Remain long with your take profit at 1.3208.