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Wait | 14 April 2021

14 April 2021, GBP/USD

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Technical observation

GBP rose above a key resistance level 1.3770 with a big green candle; currently price is pulling back to the lower side and as long as it is contained above the key level 1.3770, I expect a momentum to the upper side. My expectation is that price should pullback narrowly to the lower side towards the line mentioned above where I will be looking for a long position after a bounce at the level 1.3770 with my take profit at 1.3864 and stop loss at 1.3747. In case of a clear breakout above the zone 1.3869-1.3864 with a big green candle, I expect further bullish movements of price after a retracement to the just broken zone.

Trade recommendation

Wait for a pullback to the level 1.3770 to buy GBP.

Imelda Maseno
Analyst of «FreshForex» company
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