GBPUSD 04.05.2021

Technical Analysis
Tuesday, May 04, 2021 - 02:21
Point Trader Group
GBPUSD 04.05.2021

Overview: 

Prices are moving in a short term downtrend 

Expected scenario: 

The above chart shows that the pair is trading below a strong resistance level around 1.3935, which enhances the downside chances during today's trading to 1.3820 and from there to 1.3800. 

Alternative scenario: 

On the other hand, we think that in the event of a break of 1.3935 to the upside, this pair might push further to the upside, reaching 1.3950, and then 1.3970.

Resistance levels

1.3935

1.3970

1.4000

Support levels

1.3820

1.3800

1.3770

 

  Disclosure of risk:     Point Trader Group will not accept liability for any loss or damage as a result of reliance on the provided information.


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