17 June 2021, GBP/USD
Technical observation
On the chart above, price is not rise to the resistance level 1.4233 as I had previously anticipated; however, it declined and penetrated below a supportive it established at 1.4072-1.4085 with a big red candle. Right now GBP is retracing to the just broken zone and it is currently trading within it with an increasing bullish bias. In case of a loss of this upwards movement within the zone, I expect price to plummet towards the supportive level 1.3808, however, if it is not sustained below the zone and there is a clear break above it with a big green candle, then the previous break below the zone was false and you can expect possible bullish movements of price.
Trade recommendation
Remain flat.
en 
id 
ar 
ru 
vn 
es 
pt 
th 
kz 
ua 
tj 
uz 
az 