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Remain flat

Remain flat | 17 August 2021

17 August 2021, GBP/USD

Remain flat

Technical observation

On the daily chart above price is trading with an increasing bearish bias above a zone 1.3697-1.3654, this bearish movement is a retracement to the zone mentioned above and as long as it is contained above it I expect a momentum to the upper side, however, should there be a clear breakout below the same zone with a big red candle, I expect a the value of this pair to plummet to the supportive level 1.3177 or even further to the lower level 1.2717. Right now as it now as it is on the chart above, remaining neutral with this pair is ideal than picking any positions. You can buy GBP within the zone 1.3697-1.3654 with your take profit at 1.4210.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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