Remain long towards 1.3255 | 27 August 2020

Technical observation

Following its rejection within the supportive zone 1.3037-1.3019, GBP has been rising towards a resistance line 1.3255. I expect either a clear breakout above the line with a big green candle of a rejection at it followed by a correction to the supportive mentioned above. If you bought GBP within the zone 1.3037-1.3019, remain in the trade and a pick your profits at 1.3255. However, if you are currently flat with this pair, remain so and wait for a either a correction to the zone 1.3037-1.3019 and a rejection within to buy GBP or a clear breakout above the line 1.3255 and a correction to buy GBP.

Trade recommendation

Remain long with your take profit at 1.3255.