GBP/USD: Trading Recommendations
Yuri Papshev | May 31, 2021 07:30AM ET
GBP/USD maintains positive long-term dynamics, moving within the upward channel on the daily chart. Its upper border passes through the level of 1.4300 and after the breakdown of the local resistance level of 1.4240, this mark will become the closest target of the GBP/USD growth.
More distant growth targets for the pair are resistance levels at 1.4580 (Fibonacci level of 50% correction to the decline of the GBP/USD pair in the wave that began in July 2014 near the level of 1.7200), 1.4800, 1.4830.
Support levels: 1.4153, 1.4100, 1.4034, 1.4006, 1.3970, 1.3900, 1.3840, 1.3730, 1.3665, 1.3600
Resistance levels: 1.4200, 1.4240, 1.4300, 1.4350, 1.4440, 1.4580, 1.4830
Sell Stop 1.4130. Stop-Loss 1.4210. Take-Profit 1.4100, 1.4034, 1.4006, 1.3970, 1.3900, 1.3840, 1.3730, 1.3665, 1.3600
Buy Stop 1.4210. Stop-Loss 1.4130. Take-Profit 1.4240, 1.4300, 1.4350, 1.4440, 1.4580, 1.4830
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