08 сентября 2020, GBP/USD
Technical observation
On the daily chart above price is still rallying with an increasing bearish momentum below a resistance line 1.3336 it recently penetrated. However, I expect a loss of this bearish price movement followed by a correction to the line 1.3336 and a rejection at it to sell GBP. My advice, wait for a pullback to the line 1.3336 and a rejection at it to sell GBP with your take profit at 1.2785 and stop loss at 1.3511. In case of a clear break below the supportive zone indicated at 1.2785-1.2748 with a big red candle, you can anticipate a surge to the lower side towards the key level 1.2205 or even lower to 1.1682.
Trade recommendation
Wait for a correction to 1.3336 to sell GBP.
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