The GBPUSD under the negative pressure - Analysis - 14-07-2021

The GBPUSD pair declined strongly yesterday to touch 1.3805 level and settles there, which puts the price’s destiny between the key levels represented by the mentioned support and 1.3890 resistance, which it failed to breach in the recent positive attempts, thus, we prefer staying neutral until the price confirms breaching one of these levels.

Note that breaking the mentioned support will press on the price to resume the bearish wave that its next target located at 1.3670, while breaching the resistance represents the key to achieve new gains that start by visiting 1.3960 and extend to 1.4025 after surpassing the previous level.

The expected trading range for today is between 1.3740 support and 1.3910 resistance.

The expected trend for today: Neutral