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We're neutral

We're neutral | 02 June 2021

02 June 2021, GBP/USD

We're neutral

Technical observation

GBP is trading with an increasing bearish bias between a supportive zone 1.3661-1.3599 and a resistance line 1.4615. I expect a continuation of this bearish movement to the zone I have mentioned above followed by a bounce within it for a momentum to the upper side. My advice, remain neutral and wait for a correction to the zone 1.3661-1.3599 and a rejection within it to buy GBP within it with your take profit at 1.4615 and stop loss at 1.3177. In case of a rise and a clear breach above the level 1.4615 with a big green candle, wait for correction it and a bounce confirming further upwards movements of price before you continue long towards the level 1.5891.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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