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
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus