Remain flat | 18 August 2020
18 August 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.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
