Forex Analysis & Reviews: Trading Signals for GBP/USD, for June 18 -21, 2021: Buy above 1.3905

Early in the Asian session, the GBP/USD pair traded above the support of the 4/8 murray located at 1.3916, having broken through a bearish channel in the 1 hour chart, slightly above the SMA of 21 located at 1.3944. The British pound has dropped to a low of 1.3894. From that point it has gone up from 40 pips. Currently facing resistance dynamics of the 21 period simple moving average. If the price breaks through this level and consolidates above, there will be a good opportunity to buy with the target at 1.3977 (5/8). The price will reach the psychological levels of 1.4000 and 1.4038 (6/8 murray). If the GBP/USD pair makes technical gains at the bottom of 1.3916 or 1.3905 and trades above this zone, it will be a good opportunity to buy. Murray 4/8 is located there which represents very strong support. In the chart, we can also see the GAP originating after the Fed announcement. This confirms the idea that in the medium scale the GBP/USD pair can reach the zone of 1.4099 to completely close the GAP. The technical figures from the eagle indicator show signs of a possible upward movement for the coming days, as the indicators move above the oversold zone in the 1 hour chart. Our recommendation is to buy above 1.3944 (above SMA 21). Alternatively, if GBP/USD rises to 1.3905/16, buy with targets at 1.3977 and 1.4038.

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