Source: PaxForex Premium Analytics Portal, Technical Insight
GBP/USD extended its decline amid looming concerns about the Delta variant.
GBP/USD,D1
Pivot: 1.3615
Analysis:
While the price is below 1.3960, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3615
- Take Profit 1: 1.3540
- Take Profit 2: 1.3430
Alternative scenario:
If the level 1.3960 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3960
- Take Profit 1: 1.4090
- Take Profit 2: 1.4240
Comment:
RSI shows the development of a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 1.4240 | 1.3540 |
| 1.4090 | 1.3430 |
| 1.3960 | 1.3350 |
