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Wait | 22 April 2019

22 April 2019, GBP/USD

Technical observation

Just like EUR this pair is also declining to a supportive level 1.2143, my expectation is either a rally to the line 1.2143 or a correction to the resistance zone 1.3417-1.3301 and a bounce within it to re-sell GBP. If you previously sold this pair within 1.3417-1.3301 after a bounce hold on to that position with your take profit at 1.2143 and stop loss at 1.3766, if you are not in a trade yet, wait for another correction to 1.3417-1.3301 and a rejection within it to sell GBP. Should there be no rejection within 1.3417-1.3301 but a clear penetration above it, possible bullish price momentum towards the line 1.4615 can be anticipated.

Trade recommendation

Wait for a correction to 1.3417-1.3301 to sell GBP with your take profit at 1.2143 and stop loss at 1.3766.

Imelda Maseno
Analyst of «FreshForex» company
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