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We're long within 1.3280-1.3261

We're long within 1.3280-1.3261 | 04 September 2020

04 September 2020, GBP/USD

Technical observation

On the chart above, GBP pulled back to the supportive zone it established around 1.3280-1.3261 and it could not break below it. Price was contained above the zone and is currently trading with an increasing bullish momentum. I expect this upwards movement to continue to the resistance line marked at 1.3469 followed by a clear breakout above it for a further rise in price. My advice; if you bought GBP within the zone 1.3280-1.3261 after a bounce, remain long with your take profit at 1.3469 and stop loss at 1.3179. If you are flat now, you can still pick long positions right now within the zone 1.3280-1.3261.

Trade recommendation

Buy GBP within 1.3280-1.3261 with your take profit at 1.3469.

Imelda Maseno
Analyst of «FreshForex» company
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