11 Junio 2021, GBP/USD
Technical observation
This week GBP has been trading with an increasing bullish bias and I expect it to close bullish. If you bought GBP within the supportive zone 1.3661-1.3599 and you are currently long, remain in the trade with your take profit at 1.4615 and stop loss at 1.3328. On the chart above if price rises and penetrates above the resistance level 1.4615 with a big red candle, I expect a further momentum of price to the upper side to the key level 1.5891 after a correction to the just broken line. On the weekly chart above, as long as price is contained above the supportive zone 1.3661-1.3599, only bullish position is ideal for the pair above.
Trade recommendation
Remain long with your take profit at 1.4615.
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