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We're bullish towards 1.4615

We're bullish towards 1.4615 | 05 April 2021

05 April 2021, GBP/USD

We're bullish towards 1.4615

Technical observation

Since its rejection above the supportive zone 1.3599-1.3478, GBP has been trading with an increasing bullish bias and as long as the value of this pair is contained above the zone mentioned above, I expect this upwards movement to continue to the resistance line 1.4615. If you bought GBP above the zone 1.3599-1.3478 after a rejection, remain long with your take profit at 1.4615 and stop loss at 1.3134. Should there be a clear breakout below 1.3599-1.3478 with a big red candle, wait for a correction to it and a bounce confirming a possible rally to the lower side before you pick short positions with your take profit at 1.2011.

Trade recommendation

Remain long with your take profit at 1.4615.

Imelda Maseno
Analyst of «FreshForex» company
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