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We are neutral

We are neutral | 01 April 2022

01 April 2022, GBP/USD

We are neutral

Technical observation

GBP is trading with an increasing bullish bias between the supportive level 1.3001 and a resistance zone it established at 1.3286-1.3271. As long as the value of the pair above is within the two levels it is ideal to rather remain neutral than pick any positions. However, you can anticipate a pullback to the zone 1.3286-1.3271 followed by a rejection within it to pick short positions with your take profit at 1.3001 and stop-loss at 1.3356. If price breaks below the level 1.3001 with a big red candle, I expect a further momentum to the lower side, on the flip side, in case of a breach above the zone I mentioned previously, I expect GBP to surge towards 1.3435.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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