GBPUSD Analysis, April 22, 2025
GBPUSD on the M15 TF chart shows a very strong uptrend at first, where the price rose significantly in a relatively short time. After that, the price began to show consolidation in the form of sideways with narrower up-down fluctuations. This usually indicates that the market is determining the next direction, whether to continue the trend or experience a deeper correction.
If the price manages to stay above the SMA line and bounces up, then this could be a signal that the SMA line is acting as dynamic support. In this case, traders can consider opening a buy position with a target to the previous resistance area, for example around the last peak formed at the 1.3400 level.