We're long towards 1.3511 | 03 September 2020

Technical observation

The pair on the chart above corrected to a zone 1.3282-1.3268 but could not break below it. Price bounced within the same zone and is currently trading with an increasing bullish momentum. I expect is a rise to the resistance line 1.3511 followed by either a clear breakout above it with a big green candle or bounce at it followed by another correction to 1.3282-1.3268. My advice, if you bought GBP within 1.3282-1.3268 after a rejection, remain long with your take profit at 1.3511 and stop loss at 1.3173. As long as price is contained above 1.3282-1.3268, only upwards movements can be expected.

Trade recommendation

Remain long with your take profit at 1.3511.