18 Agosto 2020, GBP/USD
Technical observation
GBP is trading with an increasing bullish momentum between a resistance line 1.3290 and a supportive zone 1.2781-1.2753. I expect either a rise to the line 1.3290 followed by a clear breakout above it with a big green candle or a decline to the supportive zone 1.2781-1.2753 and a bounce within it to pick long positions. My advice, in case of a clear breakout above 1.3290, wait for a correction to it and a bounce to buy GBP with your take profit at 1.3648 and should there be a decline to the zone 1.2781-1.2753, buy this pair within the zone towards 1.3290. Right now, remain flat.
Trade recommendation
Remain flat.