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Xpressforex
Apr 19, 2020 4:58 PM

GBPUSD Analysis Long

British Pound/U.S. DollarFXCM

Description

Using the 4 hour & 1 Hour charts. I can see towards the tail end of last week the market started consolidating. However, we saw throughout the week a strong bullish trend, as hope around COVID-19 restrictions easing and economic hope, I believe we will see some strength in the Sterling. Using technical indicators, the Stochastic is showing the market is overbought and therefore reinforces a Sell position. You can see from my chart the Support & Resistance zones. What do you think?
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