Expecting a momentum towards 1.4615 | 27 August 2021

Technical observation

On the weekly chart above GBP was sustained above a supportive zone 1.3661-1.3599 and is currently rising steadily, as long as price is above this zone, I expect upwards movements to the resistance level 1.4615, If you bought GBP within the zone I have mentioned above and is currently bullish with this pair, remain long with your take profit at 1.4615 and stop loss at 1.3217. In case there is a clear breakout above the level 1.4615 with a big green candle, continue long with this pair after a pullback to the broken line. However, if price breaks below the zone 1.3316-1.3599 with a big red candle, short GBP within it after a retracement to the same zone.

Trade recommendation

Remain long with your take profit at 1.4615.