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Remain flat.

Remain flat. | 07 June 2022

07 June 2022, GBP/USD

Remain flat.

Technical observation

GBP has been trading with an increasing bullish bias for the past several weeks and I still expect a continuation of this upwards movement towards the resistance zone 1.3418-1.3355 followed by a rejection within it to pick short positions with my take profit at 1.2083 and stop-loss at 1.3749. If price breaks below the level 1.2083, I expect a further surge towards the supportive level 1.1404. In case of a break above the zone 1.3418-1.3355, I anticipate possible bullish movements towards the level 1.4636 after a correction and rejection within the broken zone. Right now remaining flat is ideal than picking any positions.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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