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Wait and sell a rebound from 1.37998 towards 1.37620.

Wait and sell a rebound from 1.37998 towards 1.37620. | 16 April 2021

16 April 2021, GBP/USD

Technical Observation

GBPUSD is currently approaching a resistance zone 1.37990-1.37951. While the price does not clearly breakout and close above this zone, we are waiting for a possible rebound rebound from this zone to pick a possible sell position. And should the price breakout above 1.37998, then we will wait for signs that the price will sustain itself above this zone to pick a possible long term buy position towards 1.38250, a breakout above this level may mean we are heading even further towards 1.39.

Trade Recommendations:

Wait and sell a rebound from 1.37998 towards 1.37620.

Imelda Maseno
Analyst of «FreshForex» company
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