Remain short | 15 April 2022

15 April 2022, GBP/USD

Remain short

Technical observation

The value of the pair above has been trading with an increasing bearish bias for some time and if you are currently holding short positions I would recommend that you remain in the trade with your take profit at 1.2989 and stop loss at 1.3260. However, in case you are neutral with the pair above, wait for either a correction to the zone 1.3181-1.3166 or a clear break below the supportive level 1.2989 followed by a retracement to it to sell GBP. Should there be a clear breakout above the zone I have mentioned above with a big green candle, I expect a pullback to it and a bounce followed by a momentum towards the resistance level 1.3420.

Trade recommendation

Remain short with your take profit at 1.2989.

Imelda Maseno
Analyst of «FreshForex» company
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