We're flat | 15 April 2020

15 April 2020, GBP/USD

We're flat

Technical observation

After several days of rallying upwards, GBP is currently trading below a resistance zone 1.2770-1.2746 with an increasing bearish bias. If you bought this pair within the supportive zone 1.2209-1.2173 after a bounce, you can pick your profits now. However, if you are currently neutral with this pair, wait for another correction to the zone 1.2209-1.2173 and a rejection at it to buy GBP. In case there is a clear penetration above the resistance zone 1.2770-1.2746 with a big green candle, an increase in the value of this pair towards the key level marked at 1.3312 can be expected. Right now remain flat.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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