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We're neutral

We're neutral | 21 June 2021

21 June 2021, GBP/USD

We're neutral

Technical observation

Just like EUR, GBP broke below a supportive zone 1.4012-1.4003 with a big red candle then retraced the just broken zone but could not break above it; price was sustained below the zone and then rallied downwards to the supportive level 1.3799. I expect a correction to the zone I have mentioned above followed by a rejection within it to sell GBP with my take profit at 1.3799 and stop loss at 1.4065. In case of a clear breakout below the key level 1.3799 with a big red candle, wait for a correction to the just broken line confirming further bearish movements of price before you continue short with this pair towards the supportive level 1.3518.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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