Long towards 1.2746 | 24 April 2020

24 April 2020, GBP/USD

Long towards 1.2746

Technical observation

GBP continues to rise steadily towards the resistance zone it established around 1.2770-1.2746 and I expect further bullish price movements today. If you bought this pair within the supportive zone 1.2209-1.2173 after a bounce, remain long with your take profit at 1.2746 and stop loss at 1.1978. In case you are not in a trade yet and is currently neutral, remain flat and wait for either another correction to the zone 1.2209-1.2173 followed by a bounce within it to buy GBP or a breach above the zone 1.2770-1.2746 and a correction to it to buy this pair. Only long positions look ideal and can be advisable on the chart above.

Trade recommendation

Remain long with your take profit at 1.2746.

Imelda Maseno
Analyst of «FreshForex» company
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