GBP/USD: Trading Recommendations
Yuri Papshev | Jun 03, 2021 07:57AM ET
GBP/USD maintains positive long-term dynamics, moving within the upward channels on the daily and weekly charts. Their upper border goes through the marks 1.4240 and 1.4830, respectively. After the breakdown of the local resistance level and the upper border of the ascending channel on the daily chart 1.4240, the resistance level 1.4830 will become the target of GBP/USD growth in the coming months. Intermediate targets for the growth of the pair are resistance levels 1.4580, 1.4800.
The first signal for the implementation of the alternative scenario may be a breakdown of the short-term support level 1.4164.
Support levels: 1.4164, 1.4100, 1.4059, 1.4010, 1.3970, 1.3900, 1.3840, 1.3745, 1.3665, 1.3610
Resistance levels: 1.4240, 1.4300, 1.4350, 1.4440, 1.4580, 1.4830
Sell Stop 1.4160. Stop-Loss 1.4210. Take-Profit 1.4100, 1.4059, 1.4010, 1.3970, 1.3900, 1.3840, 1.3745, 1.3665, 1.3610
Buy Stop 1.4210. Stop-Loss 1.4160. Take-Profit 1.4240, 1.4300, 1.4350, 1.4440, 1.4580, 1.4830
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