Remain bullish | 27 April 2021

27 April 2021, GBP/USD

Remain bullish

Technical observation

On the 4 hour chart above price is trading with an increasing bullish bias above a trend line as indicated on the chart above. As long as GBP is sustained above this line, I expect bullish movements towards the level 1.4001 and if price penetrates above 1.4001, expect a further momentum to the resistance line 1.4236. If you are currently long with this pair, remain so with your take profit at 1.4001 and stop loss at 1.3834. Should there be a clear breach below the trend line as indicated above, I expect bearish movements towards the supportive zone 1.3821-1.3808, if GBP breaks below this zone, wait for a correction to it before you sell.

Trade recommendation

Remain long with your take profit at 1.4001.

Imelda Maseno
Analyst of «FreshForex» company
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