02 Tháng bảy 2021, GBP/USD
Technical observation
This week GBP has been declining towards the supportive zone it established at 1.3661-1.3599, I expect a loss of this bearish movement within the same zone for a momentum to the upper side. My advice, remain neutral temporarily and wait for a rejection within the zone 1.3661-1.3599 to buy GBP with your take profit at 1.4615 and stop loss at 1.3286. In case of a clear breakout below the zone I have mentioned above with a big red candle, you can expect price to plummet to the supportive level 1.2565 or even lower to the next level 1.1518. However, as long as GBP is sustained above the zone 1.3661-1.3599, I can only recommend bullish positions.
Trade recommendation
Remain flat temporarily.
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