TECHNICAL DAILY OUTLOOK – GBPUSD 20th of April
EYES STILL ON 1.4900
As I wrote Friday, 1.4900 area would accumulate bulls projections and price would end with rise up the next ladder to 1.5045 area.
The accuracy of this view was confirmed as 1.4920 was a solid support and 1.5045 a strong resistance.
The possible scenarios for this beginning of week are 2 (affected by the news release of next days):
– if 1.4900 area will accumulate bulls projections then price will end with gaining 1.5045 back and rising up to the next ladder in 1.5104 area
– bearish breach of 1.4900 will lead to a correction in 1.4850 area back again, between today and tomorrow, and further (eventually) toward 1.4783.
Author: Simone Ambrogio
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