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Expect a momentum towards 1.4615.

Expect a momentum towards 1.4615. | 23 June 2021

23 June 2021, GBP/USD

Technical observation

GBP retraced to supportive zone it established at 1.3661-1.3599 but did not reach it; price bounced above the zone and is currently trading with an increasing bullish bias. As long as price is contained above the zone 1.3661-1.3599, I can only recommend bullish positions for this pair. If you bought GBP above 1.3661-1.3599 after a bounce, remain long with your take profit at 1.4615 and stop loss at 1.3182. In case of a clear breakout below the zone 1.3661-1.3599 with a big red candle, I expect the value of this pair to plummet to the lower side towards the supportive level 1.2565 or even lower to the key level 1.1518.

Trade recommendation

Remain long with your take profit at 1.4615.

Imelda Maseno
Analyst of «FreshForex» company
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