The pound is forming pressure on support 19/4/2022

Limited positive attempts by the pound sterling to visit the required target of 1.3165, but the pair faced a strong resistance level around 1.3145, which forced it to trade negatively again, to repeat the negative pressure on the 1.3000 support barrier.

Technically, we tend to the negativity, relying on movement below 1.3145, accompanied by negative pressure coming from the 50-day moving average and the negative features dominating the stochastic indicator.

We await confirmation of breaking the support of the psychological barrier 1.3000, which facilitates the task required to visit 1.2960, a first target. We must pay close attention to this low because its breach will extend the pair’s losses towards 1.2910 as long as the price is stable intraday below 1.3100 and in general below 1.3145.

Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.

S1: 1.2960	R1: 1.3105
S2: 1.2905	R2: 1.3200
S3: 1.2810	R3: 1.3260