For Traders

Analytical Reviews

Technical analysis

14.04.202116:13 Forex Analysis & Reviews: Trading Signal for GBP/USD for April 14 - 15, 2021: Key level 1.3805

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The GBP / USD pair in the morning of the American session, in 4-hour charts, is trading near the SMA of 21, and below the resistance of 1.3805, a few hours ago it reached this level, and is now backing about 40 pips.

The pair has extended this week's rebound from Murray's 0/8 support at 1.3671, and for the third day in a row is holding up.

However, it should overcome the resistance of 1.3805 and 1.3835, where the EMA of 200 is located, a strong resistance that the pair has not been able to overcome on previous occasions.

A consolidation above 1.3840 and above the 200-exponential moving average could be seen as a trigger for intraday bullish traders.

On the other hand, our outlook will continue to be bearish, as long as it remains below 1.3840 and we also notice a modest rebound in US Treasury yields, this could limit the gains for the GBP / USD pair, and maintain it under pressure.

Therefore, we recommend buying above 1.3735 if there is a technical bounce, if the pair tries to break the 1.3805 resistance again, it could be a good selling opportunity.

Support And Resistance Levels For April 14 - 15, 2021

Resistance (1) 1.3810

Resistance (2) 1.3820

Resistance (3) 1.3855

Support (1) 1.3735

Support (2) 1.3702

Support (3) 1.3659

***********************************************************

Trading tip for GBP/USD for April 14 - 15, 2021

Buy if rebound 1.3735 (Strong Support and SMA 21), with take profit at 1.3805 and 1.3835, stop loss below 1.3700.

Sell if pullback to 1.3805 and 1.3835 (1/8 of murray - EMA 200), with take profit at 1.3740 (SMA 21), stop loss above 1.3845.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.