GBP / USD remains under pressure on Thursday, with sellers currently breaking through support at 1.4100.
Markets are awaiting the release of inflation in the US today at a press conference by ECB President Christine Lagarde.
In addition, the pressure on sterling is intensified by the approaching session of the G7 countries, where, as expected, the issues of the UK’s exit from the EU will be touched upon, which, according to Brussels, London did not work out in accordance with the agreements. On June 30, a transitional period expires, during which temporary agreements are in effect, but due to the lack of new regulations, the UK will try to prolong it. The EU authorities can impose fines on London and raise import tariffs on a number of British goods.
The Bollinger indicator on the Daily remains flat with a slight expansion of the price range from below.
The MACD indicator is declining in a positive range and holds a stable sell signal.
Stochastic Oscillator reversed downward.
We keep the priority for short positions.
After fixing below 1.4100, open new sells with a take profit of 1.4000. Stop loss is set at 1.4150.
In case of a bearish failure, we expect a break above 1.4135. From here we enter long positions with the target at 1.4200. Stop loss is set at 1.4090.