Daily analysis of GBP/USD for March 21, 2017
March 20, 2017 10:27 pmVideo
Latest News
- Forecast for EUR/USD on April 25, 2024 April 25, 2024
- Forecast for GBP/USD on April 25, 2024 April 25, 2024
- Forecast for USD/JPY on April 25, 2024 April 25, 2024
- Outlook for GBP/USD on April 25. Is the pound preparing for growth? April 25, 2024
- Outlook for EUR/USD on April 25. Euro may rise and fall at the same time April 25, 2024
- USD/JPY breaks 155, markets are waiting for intervention. Review of USD/JPY April 25, 2024
- Will the dollar get stabbed in the back? April 25, 2024
- Trading Signals for EUR/USD for April 24-26, 2024: buy above 1.0670 (21 SMA – 3/8 Murray) April 24, 2024
- Technical Analysis – Alphabet stock is buoyant ahead of earnings April 24, 2024
- Analysis of the EUR/USD pair on April 24th. Waiting for US GDP for the first quarter April 24, 2024
- Analysis of the GBP/USD pair on April 24, 2024 April 24, 2024
- USD/JPY: Simple trading tips for novice traders on April 24th (US session) April 24, 2024
- GBP/USD: Simple trading tips for novice traders on April 24th (US session) April 24, 2024
- Technical Analysis – EURUSD stays beneath 1.0700 April 24, 2024
- EUR/USD: Simple trading tips for novice traders on April 24th (US session) April 24, 2024
- GBP/USD: trading plan for the US session on April 24th (analysis of morning deals). The pound retains hope April 24, 2024
- EUR/USD: trading plan for the US session on April 24th (analysis of morning deals). The euro continues to buy around 1.0688 April 24, 2024
- Forecast for the EUR/USD pair on April 24, 2024 April 24, 2024
- GBP/USD. April 24th. The pound felt strong on Tuesday April 24, 2024
- Overview for the GBP/USD pair on April 24th. Dave Ramsden expects inflation to slow down April 24, 2024
The pair is looking for another catalyst to follow the overall bullish bias, which has been followed above the 200 SMA at H1 chart, as GBP/USD was rejected by the resistance zone of 1.2409. If the Cable manages to break above that area, then we can expect a rally to test the 1.2512 level in the near-term, but the price action still favors to a lower continuation.
H1 chart’s resistance levels: 1.2409 / 1.2512
H1 chart’s support levels: 1.2292 / 1.2197
Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.2292, take profit is at 1.2197 and stop loss is at 1.2387.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: