GBP/USD tech levels 19 April
At time of writing we’re pushing up into resistance at 1.5360/70 just shy of further sell orders in the 1.5375 region. As per yesterda, tech levels are few and far between. We managed to close above the 55 dma which is now at 1.5265 and this will be a focal point if we move back down. We have orders as per Mike’s board and still have the 38.2 fib level at 1.5422 and upper channel line at 1.5478. Before there we also have strong resistance at 1.5415/20 mixed in with selling at 1.5425.
On the H4 chart you’ll see that we went through the 55 ma at 1.5314 and you can see that previously after falling from the 1.5400 highs we’ve stayed below the 1.5380 area on 4 attempts. This is where you can see the orders and resistance in action (pink line) and why this area is still important.
