GBP/USD Forecast April 19-23 – Pound Punches Above 1.38

Technical lines from top to bottom:

We start with resistance at 1.4036.

1.3944 is next.

1.3824 has switched to resistance after the pound sustained sharp losses last week.

1.3699 is an immediate line of support.

1.3582 (mentioned last week) is the final support level for now.

I am neutral on GBP/USD

The US economy continues to signal a strong recovery, with strong employment and retail sales numbers. The UK economy is also headed in the right direction, as the government continues to lift health restrictions.

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