GBP/USD: Trading Recommendations
Yuri Papshev | Jul 15, 2021 08:24AM ET
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.
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.
h2 Trading recommendations/h2Sell 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
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.