FX.co - GBP/USD update for July 23, 2021 - Bullish continuation and potetnial test of 1.3850

23 July 2021 at 12:26PM (UTC+0)

Relevance until23 July 2021 at 6:26PM (UTC+0)

Technical analysis:

GBP/USD update for July 23, 2021 - Bullish continuation and potetnial test of 1.3850

GBP/USD has been trading upside this morning due to downside exhaustion and the potential completion of the ABC downside correction.

Trading recommendation:

Watch for potential buying opportunities on the intraday pullbacks with the upside targets at 1,3785 and 1,3850.

Stochastic is showing oversold condition and fresh bull cross, which is sign for the rally....

Key support is set at the price of 1,3720

*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 July 23, 2021 - Bullish continuation and potetnial test of 1.3850