02 Abril 2021, GBP/USD
Technical observation
This week I expected the value of the pair on the chart above to decline up to the supportive zone 1.3599-1.3478 followed by rejection within it to pick long positions. However, this pair did not decline to the zone but bounced above it and is currently trading with an increasing bullish bias. I expect this upwards movement to continue to the resistance line 1.4615 followed by either a clear break above it or a rejection at followed by another retracement to the zone 1.3599-1.3478.If you are currently long with this pair, remain so with your take profit at 1.4625 and stop loss at 1.3134. I can only recommend bullish positions for this pair.
Trade recommendation
Remain long with your take profit at 1.4615.
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