Looking to sell within 1.3768-1.3737 | 26 July 2021

26 July 2021, GBP/USD

Technical observation

GBP penetrated below a supportive zone 1.3768-1.3737 with a big red candle then retraced to the just broken zone and it was contained below it, as long as price is trading below this zone, I expect it to plummet towards the supportive level 1.3277. Right now GBP is trading within the zone I have mentioned above with a big an increasing bearish bias and I expect it to continue to the further downwards; you can pick short positions now within the zone with your take profit at 1.3277 and stop loss at 1.3898. If you are a bit skeptic to pick short position now, wait for a second retracement to the zone 1.3768-1.3737 and a bounce within it to sell GBP.

Trade recommendation

Sell GBP within 1.3768-1.3737 with your take profit at 1.3277.


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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