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Remain long

Remain long | 29 April 2021

29 April 2021, GBP/USD

Remain long

Technical observation

GBP retraced to the supportive zone 1.3945-1.3939 for a second time but could not penetrate below it, it was sustained above the zone and is currently trading with an increasing bullish bias, I expect a continuation of this upward movement to the resistance level 1.4008 and in case of a breakout above it, wait for a correction to it before you continue long with this pair. If you are currently bullish with GBP,I would advise you remain long with your take profit at 1.4008 and stop loss at 1.3914. Should there be a clear breakout below the zone 1.3945-1.3939 with a big red candle, I expect a surge to the supportive level 1.3864.

Trade recommendation

Remain long with your take profit at 1.4008.

Imelda Maseno
Analyst of «FreshForex» company
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