Remain flat | 19 July 2021

19 July 2021, GBP/USD

Technical observation

Just like EUR, GBP is trading with an increasing bearish bias above a supportive zone 1.3737-1.3703, I expect a bounce within the zone I have mentioned above to pick long positions towards the resistance level 1.4216, If price is not sustained above the zone and instead it penetrates below it with a big red candle, my expectation is a retracement to the just broken zone and a bounce within it for a surge to the lower side. My advice, remain flat temporarily and buy a bounce within the zone 1.3737-1.3703 with your take profit at 1.4216 and stop loss at 1.3511, in case of a penetration below 1.3737-1.3703 pick short positions after a correction to the broken zone.

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.
Imelda Maseno
Analyst of «FreshForex» company
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