14 June 2021, GBP/USD
Technical observation
GBP retraced to the supportive zone 1.4093-1.4082 but could not break below it, it bounced within above the zone and is currently trading with an increasing bullish bias, as long as price is contained above this zone, anticipate bullish movements of price towards the resistance level 1.4233. If you bought GBP within the zone mentioned above after a bounce, remain in the trade with your take profit at 1.4233 and stop loss at 1.4029. In case of a clear breakout below the zone 1.4093-1.4082 with a big red candle, I expect the value of this pair to plummet to the lower side to the supportive level 1.3811 after a correction to the just broken zone.
Trade recommendation
Remain long with your take profit at 1.4233.
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