We're flat | 10 April 2019

10 April 2019, GBP/USD

Technical observation

GBP is trading on an increasing bullish bias between a supportive zone 1.2985-1.2970 and a resistance line 1.3224.I expect either a decline to the support followed by a penetration below it or a rise to 1.3224 followed by a clear breach above it. In case of a decline to 1.2985-1.2970 and a break below it, wait for a correction to the just broken zone and a bounce within it to confirm bearish price rally before you sell GBP with your take profit at 1.2706 and stop loss at 1.3036, however, should there be a clear break above 1.3224, wait for a correction to it confirming further bullish movements of price before you buy GBP.

Trade recommendation

Remain flat.


The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
Imelda Maseno
Analyst of «FreshForex» company
Close
Login