We're neutral | 13 Juli 2021

13 Juli 2021, GBP/USD

We're neutral

Technical observation

GBP is retracing to a supportive zone it established at 1.3661-1.3599, my expectation is either a loss of this bearish movement within the zone I have mentioned above, or a clear breakout below the same zone with a big red candle. My advice, in case of a bounce within 1.3661-1.3599, buy GBP within it with your take profit at 1.4615 and stop loss at 1.3349. However, if price break below the same zone with a big red candle, wait for a correction to it and a bounce within it to sell GBP with your take profit at 1.2565 and stop loss at 1.4007. Right now remaining neutral with this pair is ideal than picking any positions.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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