Still long | 05 Maret 2020

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.

Imelda Maseno
Analyst of «FreshForex» company
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