17 Tháng sáu 2021, GBP/USD
Technical observation
On the chart above, price is not rise to the resistance level 1.4233 as I had previously anticipated; however, it declined and penetrated below a supportive it established at 1.4072-1.4085 with a big red candle. Right now GBP is retracing to the just broken zone and it is currently trading within it with an increasing bullish bias. In case of a loss of this upwards movement within the zone, I expect price to plummet towards the supportive level 1.3808, however, if it is not sustained below the zone and there is a clear break above it with a big green candle, then the previous break below the zone was false and you can expect possible bullish movements of price.
Trade recommendation
Remain flat.
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