Expecting a rally to the level 1.4615 | 25 June 2021

25 June 2021, GBP/USD

Technical observation

Since it bounced above the supportive zone 1.3661-1.3599, GBP has been trading with an increasing bullish bias and I expect this upwards movement to continue to the resistance level 1.4615 followed by either a clear penetration above it with a big green candle or a rejection at it followed by another correction to the zone I mentioned above. If you bought GBP after a bounce, remain in the trade with your take profit at 1.4615 and stop loss at 1.3279. In case of a clear breakout above the resistance level 1.4615 with a big green candle, I expect a further momentum to the upper side after a retracement to it. You can expect bearish movements below the zone 1.3661-1.3599.

Trade recommendation

Remain long with your take profit at 1.4615.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus