GBPUSD Market Outlook for April 6 2022
It is clearly visible on the hourly timeframe that the pair has not been able to determine the direction of movement for several weeks and has been in a limited range all this time. The upward momentum ended very quickly near the level of 1.3175 and the bulls failed to at least return to this level. As a result, in the coming hours, the pair may be near the level of 1.3060, from which it bounced a couple of weeks ago. The price could probably overcome this level this time and the pound would fall. We highlight the following important levels on April 6: 1.3000, 1.3060, 1.3119, 1.3175, 1.3222. The Senkou Span B (1.3174) and Kijun-sen (1.3133) lines can also be signal sources. Signals can be "bounces" and "breakthroughs" of these levels and lines. It is recommended to set the Stop Loss level to breakeven when the price passes in the right direction by 20 points. The lines of the Ichimoku indicator can move during the day, which should be taken into account when determining trading signals. There are also support and resistance levels on the chart that can be used to take profits on transactions. Only an absolutely secondary index of business activity in the construction sector is scheduled for Wednesday in the UK, and the Federal Reserve minutes are scheduled for late in the evening in the US. The first, or the second event is unlikely to provoke at least some reaction during the day. And by the time the minutes are published in the evening, traders are advised to leave the market already.
Filatov Arthur
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