GBP/USD Forecast | April 28, 2020

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Hello everyone! The British Pound has now hit an extremely important resistance zone at 1.25000. We're currently seeing a reversal starting to form but we need to wait for further weakening of the GBP in order to confirm a true bearish reversal.

So how are we going to do for our upcoming move? Well, we need to look at our current situation. We currently have market reaching a strong Hourly, Daily, and Weekly resistance zone at 1.25000 and it's reversing at that point. We have also completed the Head-and-Shoulder pattern at the 1.25000 resistance point. Therefore, we could see a very strong reversal about to occur. We still need to wait in order to confirm a proper reversal but I would suggest placing a "Sell Stop" at a lower price point to be on the safe side in case this is a false reversal. However, I believe the GBP will DROP! I will keep you all updated as the markets move! Stay alert!

Thank you,

- ALPHALICIOUS



Disclaimer: This is my personal opinion of the markets. I am not responsible for any trades that you take. Please use proper research, analysis, and risk management when trading. Thank you.
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