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24.04.201907:46 Forex Analysis & Reviews: Technical analysis of GBP/USD for 24/04/2019

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Technical Market Overview:

The GBP/USD pair has broken the technical support zone located between the levels of 1.2960 - 1.2938 and made a new local low at the level of 1.2928 despite a desperate attempt to break through the orange trendline. The main resistance for bulls is currently located at three levels: 1.2977, 1.2996 and 1.3012. The market conditions are now oversold, but the target has not been hit yet as it is located at the level of 1.2895.

Weekly Pivot Points:

WR3 - 1.3190

WR2 - 1.3152

WR1 - 1.3051

Weekly Pivot - 1.3014

WS1 - 1.2910

WS2 - 1.2866

WS3 - 1.266

Trading recommendations:

Daytraders should close the sell orders at the level of 1.2960 with profit and then wait for another good setup to occur in order to open another sell position.

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