Wait | 21 April 2021

21 April 2021, GBP/USD

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Technical observation

GBP rose up to the resistance level 1.4001 but could not break above it, it bounced at the same level and is currently trading with an increasing bearish bias. This bearish movement is a correction to the supportive zone 1.3807-1.3795 and I expect a bounce within it for a momentum to the upper side. As it is on the chart above, I would advise you remain neutral with this pair and wait for a correction to the zone mentioned above and buy a bounce within it with your take profit at 1.4001 and stop loss at 1.3714. In case of a clear breakout above the level 1.4001, I expect a further momentum to the upper side.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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