Expect a rally towards 1.4615. | 13 April 2021

13 April 2021, GBP/USD

Expect a rally towards 1.4615.

Technical observation

GBP established a weekly support zone around 1.3599-1.3478, for some weeks now; it has been trading above this zone and is not showing any clear indications of breaking below it. While price is contained above the zone, i believe GBP is still within buyers reach. As it is, if you are currently long with this pair, remain in the trade with your trade with your take profit at 1.4615 and stop loss at 1.3189, with your next take profit at the level 1.5891. Should price descend below the zone mentioned above with a big red candle, wait for a correction to the just broken zone to pick short positions with your ideal take profit at 1.2011.

Trade recommendation

Remain long with your take profit at 1.4615.

Imelda Maseno
Analyst of «FreshForex» company
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