GBPUSD → A false breakout can trigger a correction

21 apr

GBPUSD is strengthening as part of the rally associated with the fall in the dollar index, but there is a technically strong resistance zone ahead that could trigger a correction...



The dollar index, due to US politics, desire for lower interest rates, tariff war, continues its decline, giving an advantage to the currency pairs of the main basket.
Against this background, the pound sterling is strengthening and is ready to test the key resistance at the moment: 1.343. The huge pool of liquidity, accumulated behind this area may not let the price up at the first time. The last test and confirmation of this level was half a year ago.

Resistance levels: 1.343
Support levels: 1.3292, 1.3207

A sharp approach to resistance, a false breakout without the possibility of growth continuation and consolidation below the resistance 1.3430 may provoke a correction in the imbalance zone or liquidity 1.3292.

Regards R. Linda!

21 apr

Trade attivo

Retest ends with a bounce
Waiting for the continuation...

23 apr

Trade chiuso: obiettivo raggiunto