Remain short | 20 April 2022

20 April 2022, GBP/USD

Remain short

Technical observation

GBP retraced to the resistance zone it established at 1.3184-1.3208 then bounced within it and since then it has been trading with an increasing bearish bias. I expect a continuation of this bearish movement to the supportive level 1.2721 followed by either a clear break below it with a big green candle, or a rejection at it followed by another correction to the zone I mentioned earlier. If you are currently holding short positions with the pair above remain in the trade and pick your profits at 1.2721. In case of a break below 1.2721, you can expect a further surge towards the supportive level 1.2099 or even lower to 1.1436.

Trade recommendation

Remain short with your take profit at 1.2721.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus