Remain neutral temporarily. | 14 April 2023

14 April 2023, GBP/USD

Remain neutral temporarily.

Technical observation

GBP is pulling back to the resistance zone 1.2669-1.2609 and I expect a rise to the same zone followed by either a bounce within it or a clear break above it with a big green candle. My advice, remain neutral temporarily and wait for a correction to the zone I have mentioned above then sell a bounce within it with your take profit at 1.1688 and stop-loss at 1.3028. In case of a clear break below the level 1.1688, I expect the price to plunge towards the level 1.363 on the other hand, in case of a break above the zone 1.2669-1.2609; I anticipate possible bullish movements of price towards the resistance level 1.3610 or even higher to 1.4376.

Trade recommendation

Remain neutral temporarily.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .