GBP/USD: TRADING RECOMMENDATIONS

GBP/USD: TRADING RECOMMENDATIONS

17 May 2021, 13:15
Yuri Papshev
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GBP / USD maintains positive long-term dynamics, moving within the upward channels on the daily and weekly charts (see also "Fundamental Analysis and Recommendations")


The growth targets for the pair are resistance levels 1.4165 (local resistance level), 1.4240 (the upper border of the ascending channel on the daily chart), 1.4580, 1.4800, 1.4830.

The first signal for the implementation of an alternative scenario for a decline in GBP / USD may be a breakdown of the short-term support level of 1.4081.


Support levels: 1.4081, 1.4038, 1.4006, 1.3970, 1.3931, 1.3900, 1.3840, 1.3665, 1.3600, 1.3540, 1.3280, 1.3210

Resistance levels: 1.4165, 1.4240, 1.4350, 1.4440, 1.4580, 1.4830


Trading recommendations
Sell ​​Stop 1.4070. Stop-Loss 1.4130. Take-Profit 1.4038, 1.4006, 1.3970, 1.3931, 1.3900, 1.3840, 1.3665, 1.3600, 1.3540, 1.3280, 1.3210

Buy Stop 1.4130. Stop-Loss 1.4070. Take-Profit 1.4165, 1.4240, 1.4350, 1.4440, 1.4580, 1.4830

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**) GBP/USD:  Current Fundamental Analysis and Market Expectations

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