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Remain short towards 1.30168.

Remain short towards 1.30168. | 20 August 2020

20 August 2020, GBP/USD

Remain short towards 1.30168.

Technical Observation
GBPUSD is currently rallying around 1.3077. On the 1 Hour Chart , the previous candle closed below the previous 52 Period Exponential Moving Average. While the price is held below the level 1.30847 we are in an active down trend . This trend is supported by the fact that the price is below the previous day's Lowest Low 1.30955. While we continue to see a sustained move below 1.30955 we expect a surge much lower with an Ideal Target at 1.30168. At this point, Sell Positions looks ideal and can be recommended with an ideal take profit 1.30168.
Trade Recommendations:
Remain short towards 1.30168.
Imelda Maseno
Analyst of «FreshForex» company
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