GBP/USD: TRADING RECOMMENDATIONS

GBP/USD: TRADING RECOMMENDATIONS

15 July 2021, 14:01
Yuri Papshev
0
95

A breakdown of the important short-term resistance level and the upper border of the range (between the levels of 1.3800 and 1.3914) will be a signal for renewed buys. And an increase in the zone above the resistance levels of 1.3970 (Fibonacci level 38.2% of the correction to the decline of the GBP / USD pair in the wave that began in July 2014 near the level of 1.7200), 1.4000 (local resistance level) will indicate the resumption of the GBP / USD bullish trend (see also  "Fundamental Analysis and Recommendations")


In an alternative scenario and after the breakdown of the support levels 1.3800, 1.395 GBP / USD may decline to the support levels 1.3320, 1.3210 (Fibonacci level 23.6%). Their breakdown will increase the risks of a resumption of the global bearish trend in GBP / USD.


Trading recommendations

Sell Stop 1.3790. Stop-Loss 1.3930. Take-Profit 1.3700, 1.3600, 1.3320, 1.3210

Buy Stop 1.3930. Stop-Loss 1.3790. Take-Profit 1.3970, 1.4000, 1.4100, 1.4200, 1.4240, 1.4300, 1.4350, 1.4440, 1.4580, 1.4830

*) GBP/USD Current Fundamental Analysis and Market Expectations

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