We're bullish | 28 April 2021

Technical observation

For two consecutive weeks now GBP has been trading with an increasing bullish bias above a supportive zone 1.3661-1.3599, right now i expect further bullish movements towards the resistance level 1.4615 and in case of break above the line; I anticipate bullish movements towards the upper key level 1.5891. If you bought GBP within the zone 1.3661-1.3599 after a bounce, remain long with your take profit at 1.4615 and stop loss at 1.3189. Should price break below the zone I previously mentioned above, I expect the value of this pair to plummet to the lower side after a rebound to the just broken zone and a rejection within it.

Trade recommendation

Remain long with your take profit at 1.4615.