We are flat | 14 June 2022

Technical observation

This week the value of the pair above opened bearish and I expect a possible surge to the supportive level 1.2020. In case of a rejection at the same level, wait for a correction to the zone price established at 1.3355-1.3418 to sell GBP with your take profit at 1.2020 and stop loss at 1.3841. If price clearly penetrates below the level 1. 2020, I expect it to decline further towards the lower supportive level 1.1404,however, should there be a clear break above the zone I mentioned earlier, I expect the value of the pair above to ascend towards the resistance level 1.4636 or even higher to the key levels 1.4636 and 1.5924.

Trade recommendation

Wait for a correction to the zone 1.3355-1.3418 to sell GBP.