Weekly technical analysis of GBP-USD

The cable rose strongly during the past week and until now. The pair maintains trading below the upper side of the price channel that tends to drop on the D1 chart. We are waiting for the close on Monday 9-3-2020 and entering the sale while keeping the stop above the high of the candle today.

If the price breaks the channel, the rise of the purchase will be the master of the situation and it is possible to buy from the trend test from above and target 1.3340

Another scenario:

It is also possible to sell from the resistance area 1.3340 - 1.3420 and the final goal is the upper channel rib which will be broken at the time while maintaining the stop 1.3525

In general: the decline is the master of the situation until now, as long as the prices are inside the channel indicated in the chart and a fluctuation of the rise in the event that the price closed outside the channel