We're neutral | 12 April 2019
12 April 2019, GBP/USD
Technical observation
On the weekly chart above, GBP has been rising towards the key zone 1.3425-1.3313, I expect a close of this candle below the zone followed by further bullish rally towards the above mentioned zone next week and a rejection within it for downwards movement if price. Remain flat and wait for the correction to 1.3425-1.3313 and a rejection within it to sell GBP with your take profit at 1.2153 and stop loss at 1.3929, should there be no rejection within zone 1.3425-1.3313 but a clear breach above it with a big green candle, bullish price rally towards the key level 1.4615 can be expected after a correction to the just broken zone.
Trade recommendation
Remain neutral.
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.
