27 August 2020, GBP/USD
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.
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