We're flat | 30 June 2021
30 June 2021, GBP/USD
Technical observation
Yesterday price declined to the supportive level 1.3799 as I had predicted and it bounced just above it. I expect a possible breakout below the supportive level with a big red candle followed by a correction to it for a further momentum to the lower side, however, if price does not break below the line and instead rally upwards to the resistance zone it established at 1.4012-1.4003, you can re-sell GBP within the zone after a bounce with your take profit at 1.3799 and stop loss at 1.4064. In case of a break above 1.4012-1.4003, wait for a correction to it confirming possible bullish movements of price before you pick long positions.
Trade recommendation
Remain flat.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
