We're flat | 14 July 2021

14 July 2021, GBP/USD

We're flat

Technical observation

On the 4 hour chart above, price is trading with an increasing bullish bias above a supportive zone 1.3751, this bullish movement is a retracement to the resistance zone GBP established at 1.4012-1.4003 and I expect a rejection of it within the zone for a possible momentum to the lower side. As it is on the chart above, remaining neutral with this pair is ideal than picking any positions, My advice, remain flat and wait for a correction to the zone 1.4012-1,4003 and a rejection within it to sell GBP with your take profit at 1.3751 and stop loss at 1.4065. As long as price is contained below the zone 1.4012-1.4003, I can only recommend short positions for this pair.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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