Remain long | 20 Juli 2020

20 Juli 2020, GBP/USD

Remain long

Technical observation

GBP is trading with an increasing bullish momentum above a supportive zone 1.2481-1.2467. I expect this bullish price movement to continue to the key level 1.2567 followed by a clear breach above it. If you bought this pair within the zone 1.2481-1.2467 after a bounce remain in the trade with your take profit at 1.2567 and stop loss at 1.2411. Should there be a clear breakout below the zone 1.2481-1.2467 with a big red candle, wait for a retracement to the just broken zone and a rejection to confirm bearish price rally before you sell GBP with your take profit at the supportive level 1.2215.

Trade recommendation

Remain long with your take profit at 1.2567.

Imelda Maseno
Analyst of «FreshForex» company
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