FX.co - GBP/USD update for June 15, 2021 - Strong downside movement and potential for test of 1.4000 and 1.3900

2021-06-15T12:18:31

Relevance until2021-06-17

Technical analysis:

GBP/USD update for June 15, 2021 - Strong downside movement and potential for test of 1.4000 and 1.3900

GBP/USD has been trading downwards as I expected. The GBP is very close to first downside objective at 1.4000.

Trading recommendation:

Watch for selling opportunities on the rallies with the downside targets at 1.4000 and 1.3900.

Stochastic is showing negative reading with no evidence of reversal....

Additionally, there is the breakout of Bollinger contraction which is another confirmation for the downside movement.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ GBP/USD update for June 15, 2021 - Strong downside movement and potential for test of 1.4000 and 1.3900