Expect a rally towards 1.4001 | 26 April 2021

26 April 2021, GBP/USD

Expect a rally towards  1.4001

Technical observation

Just like EUR, GBP has also been rallying upwards for some time now on the 4 hour chart above. I expect this upwards to continue to the key level 1.4001 and a clear penetration above it will indicate possible further upwards movement of this pair. If you are currently long with this pair, remain so with your take profit at 1.4001 and stop loss at 1.3755. Should there be a clear breakout below the zone 1.3821-1.3808 with a big red candle, wait for a pullback to it and a rejection confirming bearish movement of this pair before you pick short positions towards the supportive level 1.3450. Right now I can only recommend bullish positions.

Trade recommendation

Remain long with your take profit at 1.4001.

Imelda Maseno
Analyst of «FreshForex» company
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