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Remain short

Remain short | 25 April 2022

25 April 2022, GBP/USD

Remain short

Technical observation

On Friday GBP declined with a big red candle and today I expect a further momentum to the supportive level 1.2721, if you are currently holding short positions with the pair above remain in the trade and pick your profits at the level 1.2721. In case of a break below the level I have mentioned above, I expect a further surge towards the lower supportive level 1.2099 or even lower to the key level 1.1436. However, if price breaks above the zone 1.3184-1.3208 with a big green candle, I expect a possible surge towards the upper resistance level 1.3609, and in case of a break above this level, I expect price to ascend further towards the upper resistance level 1.3968.

Trade recommendation

Remain short with your take profit at 1.2721.

Imelda Maseno
Analyst of «FreshForex» company
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