We're flat | 15 April 2021

15 April 2021, GBP/USD

Technical observation

On the weekly chart above, price is trading above a supportive zone it established around 1.3543-1.3473, I expect a decline to the same zone followed by a rejection within it for a rise in price towards the resistance level 1.4615. My advice, remain flat temporarily and wait for a bounce within the zone 1.3543-1.3473 to buy GBP with your take profit at 1.4615 and stop loss at 1.3134. As long as price is contained above 1.3543-1.3473, I only anticipate bullish movements of this pair. As it is in the chart above, I can only recommend short positions below the supportive zone 1.3543-1.3473 towards the key level 1.2565.

Trade recommendation

Remain neutral

Imelda Maseno
Analyst of «FreshForex» company
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