Remain short towards 1.30168. | 20 August 2020
20 August 2020, GBP/USD
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.
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.
