TECHNICAL DAILY OUTLOOK – GBPUSD 22nd of April
EYES ON 1.4920
NEWS THAT CAN HAVE AN IMPACT
– UK BOE MPC MEETING MINUTES (09:30 GMT)
– USA EXISTING HOME SALES (15:00 GMT)
Yesterday was a sideway and slow day for cable, so today we expect (and news will likely make it happen) a nice momentum. The possible scenarios for today are still 2 (the same as yesterday’s):
– if 1.4920 – 1.4850 area will accumulate bulls projections (= if you will never see price dropping substantially below) then price will end with gaining 1.5045 area, first, and eventually 1.5045, then. This can happen after a conjunction of both UK (good) data and USA (bad) data.
– bearish breach of 1.4850 – 1.4820 support will lead to a downtrend consolidation around 1.4780, and eventually toward 1.4710.
And this can happen after a conjunction of both UK (bad) data and USA (good) data.
Author: Simone Ambrogio
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