We're flat | 15 April 2021
15 April 2021, GBP/USD
Technical observation
On the weekly chart above, price is trading above a supportive zone it established around 1.3543-1.3473, I expect a decline to the same zone followed by a rejection within it for a rise in price towards the resistance level 1.4615. My advice, remain flat temporarily and wait for a bounce within the zone 1.3543-1.3473 to buy GBP with your take profit at 1.4615 and stop loss at 1.3134. As long as price is contained above 1.3543-1.3473, I only anticipate bullish movements of this pair. As it is in the chart above, I can only recommend short positions below the supportive zone 1.3543-1.3473 towards the key level 1.2565.
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.
