We are short towards 1.2028 | 08 April 2022

08 April 2022, GBP/USD

Technical observation

GBP retraced to the resistance zone it established at 1.3349-1.3298 but could not break above it, instead it was sustained below the zone and as long as it remains below it, I expect a surge towards the supportive level 1.2028. If you are currently holding short positions with the pair above, remain in the trade with your take profit at 1.2028 and stop loss at 1.3646. Should there be a clear break below the level 1.2028, I anticipate a momentum towards the lower supportive level 1.1415. In case there is a clear break above the zone I mentioned previously with a big green candle, I expect a possible surge towards the resistance level 1.4239.

Trade recommendation

Remain short with your take profit at 1.2028.

Imelda Maseno
Analyst of «FreshForex» company
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