Wait | 30 April 2021
30 April 2021, GBP/USD
Technical observation
On the hourly chart above, price is trading on the supportive zone 1.3945-1.3939 with an increasing bearish bias. In case of a break below the zone, I anticipate the value of this pair to plummet towards 1.3864; however, if it is sustained above the zone, I expect a momentum to the upper side towards the resistance level 1.4008. Remain neutral with this pair and wait for either a break below it or a bounce within it. Pick long position in case GBP is contained above 1.3945-1.3939 with your take profit at 1.4008 and stop loss at 1.3941. In case of a break below the same zone, wait for a retracement to it before you pick short positions.
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.
