We're bullish | 28 June 2021

Technical observation

Last week GBP rose with a big green candle and this week I expect a further momentum to the upper side. If you are currently bullish with this pair, remain in the trade with your take profit at 1.4615 and stop loss at 1.3224. In case of a clear breakout above the level 1.4615 with a big green candle, I expect a further momentum to the upper side after a correction to the just broken line and a correction to it. However, should there be a clear breakout below the zone 1.3661-1.3599 with a big red candle; I expect retracement to the just broken zone followed by a rejection within it to pick short positions towards the supportive level 1.2565.

Trade recommendation

Remain long with your take profit at 1.4615.