01 September 2020, GBP/USD
Technical observation
The value of the pair on the chart above penetrated a resistance line 1.3336 and is still rallying above it with an increasing bullish momentum. With the general of the pair above being upwards, I expect a correction to the just broken zone and a rejection at it to buy GBP with my take profit at 1.3759 and stop loss at 1.3146. In case of a clear breakout above the line 1.3759, I expect a further surge of this pair towards the upper resistance level marked 1.4265. As it is on the daily chart above, only bullish positions look ideal and can be recommended for the pair above. You can only short GBP below the line 1.3336.
Trade recommendation
Wait for a correction to 1.3336 and a rejection at it to buy GBP with your tame profit at 1.3759.
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