07 Agustus 2020, GBP/USD
Technical observation
Since it broke above the zone 1.2690-1.2613, GBP has been rising steadily towards the resistance zone 1.3481-1.3411 and I expect this week candle to close bullish. My expectation is correction to the zone 1.2690-1.2613 followed by a rejection within it for upwards movements of price towards the zone 1.3481-1.3411 and a clear breach above it with a big green candle. My advice remain neutral and wait for a retracement to the zone 1.2690-1.2613 and a rejection within it to buy GBP with your take profit at 1.3411 and stop loss at 1.2342.on the chart above only long positions can be recommended.
Trade recommendation
Remain neutral.