Revenue Abode

Briefing/Setup on GBPUSD
Quite impressive as GBPUSD broke out free from its consolidation last week with a close above 1.3250 price. The currency pair has a bullish close on Friday 28/08/2020 and also hit its highest level this year as the USD has fallen back towards recent lows following the Fed’s decision to update their "Statement on Longer-Run Goals and Monetary Policy Strategy”.

However, take caution to watchout as it will be interesting to see if this week's NFP(Non Farm Payroll) data can change the course of the fledgeling greenback.
Now, if the 1.3250 holds on a daily closing basis, I take the idea/position of a push higher into next resistance zone near 1.3500, slicing out up to 300 pips profit. The price might also head to the 24th June 2016 UK referendum session close of 1.3675. It will be interesting to see how the price reacts around this level as it has been used as both support and resistance since.

Alternatively, a close back below 1.3250 would negate the bullish projection. There are still some news to take note just like PMI's during the week but the non-farm payroll (NFP) reading will be the main event.

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