GBPUSD 24 April 2020 retracement from support

GBPUSD Analysis 

24 April 2020

By

Michael Brunette

Senior Fundamental Analyst

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10:45

Good Morning,

Just a follow up on the post "selling oppertunity".

The pound has succesfully moved down towards the very significant 1.23000 support level where it has tested a couple of times. Keep an eye out for a retracement towards the 1.23390 resistance level to enter a new limit order to short the pound as the 1hr is currently oversold. That is unless it breaks the 1.23000 support and becomes the new resistance.

How the hour ends will be very important. 

(The information provided is purely speculative and we do not accept any gains or losses which may result from our analysis)