02 Septiembre 2020, GBP/USD
Technical observation
On the chart above, GBP is still trading with an increasing bullish momentum above a supportive line 1.3336. I expect a retracement to the line followed by a rejection at it to buy this pair with my take profit at 1.3759 and stop loss at 1.3194. In case this take profit is triggered and there is a clear breakout above it with a big green candle, you can anticipate a further surge to the upper side towards the upper resistance level 1.4264. As it is for the pair on the chart above, as long as GBP is contained above the line 1.3336, only upwards movements can be expected. Short positions are only ideal below the line 1.3336 towards 1.2785.
Trade recommendation
Wait for a correction to 1.3336 to buy GBP with your take profit at 1.3759.
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