Remain flat | 06 August 2020

06 August 2020, GBP/USD

Remain flat

Technical observation

GBP is trading with an increasing bullish bias within a resistance zone 1.3130-1.3097 and my expectation is either a clear breakout above the zone 1.3130-1.3097 with a big green candle, or a correction to the supportive zone 1.2627-1.2603. In case of a clear breakout above 1.3130-1.3097, wait for a correction to the just broken zone and a rejection within it to buy GBP with your take profit at 1.3620 and stop loss at 1.2927. Should there be a correction to the supportive zone 1.2627-1.2603, buy GBP within it with your take profit at 1.3097 and stop loss at 1.2420. Right now, remain flat with this pair.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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