Technical Analysis of GBP/USD for 13/03/2019
March 13, 2019 8:23 amVideo
Latest News
- The euro did not understand the Fed’s signals May 3, 2024
- Analysis of GBP/USD pair on May 2nd. The final chord for the dollar May 2, 2024
- Analysis of EUR/USD pair on May 2nd. The market calmly responded to the FOMC meeting May 2, 2024
- Technical Analysis – GBPJPY returns to pre-intervention levels May 2, 2024
- JPY terrifies traders May 2, 2024
- Fed makes tough decision May 2, 2024
- USD/JPY: Simple trading tips for novice traders on May 2nd (US session) May 2, 2024
- GBP/USD: Simple trading tips for novice traders on May 2nd (US session) May 2, 2024
- EUR/USD: Simple trading tips for novice traders on May 2nd (US session) May 2, 2024
- GBP/USD: trading plan for the US session on May 2nd (analysis of morning deals). The pound was pushed below 1.2521 May 2, 2024
- EUR/USD: trading plan for the US session on May 2nd (analysis of morning deals). Euro bought around 1.0700 May 2, 2024
- EUR/USD. May 2nd. US statistics disappoint once again May 2, 2024
- Technical Analysis – EURUSD capped by 20-day SMA as rebound falters May 2, 2024
- Forex forecast 05/02/2024: EUR/USD, USD/JPY and Gold from Sebastian Seliga May 2, 2024
- USD/JPY: trading tips for beginners for European session on May 2 May 2, 2024
- GBP/USD: trading tips for beginners for European session on May 2 May 2, 2024
- EUR/USD: trading tips for beginners for European session on May 2 May 2, 2024
- Market Comment – Dollar slides as Powell rules out rate hikes May 2, 2024
- RBA decision: will a rate hike be back on the table? – Preview May 2, 2024
- Video market update for May 02, 2024 May 2, 2024
Technical Market Overview:
The GBP/USD pair has bounced and rebounded from the technical support located at the level of 1.2959, hit the technical resistance zone located between the levels of 1.3258 – 1.3304 and made a widespread Pin Bar candle with a long upper shadow. In the result, the price reversed back towards the broken trend line and now is trading in the middle of the range. All of this price action is the result of the Brexit decision, so there is a lot of violent, sudden and emotion-driven moves on the GBP pairs. Anyway, the price is still between the two important zones: technical resistance zone between 1.3258 – 1.3304 and technical support zone between 1.2938 – 1.2959. We are waiting for a breakout in either direction, but please remember the trend is still up.
Weekly Pivot Points:
WR3 – 1.3385
WR2 – 1.3316
WR1 – 1.3123
Weekly Pivot – 1.3053
WS1 – 1.2856
WS2 – 1.2781
WS3 – 1.2654
Trading Recommendations:
The targets for the sell orders at 1.3108 and 1.3100, which were opened from the technical resistance zone located between the levels of 1.3258 – 1.3304 are now all closed with profits. No new trades should be opened now as there is no trading setup present. Stay aside for a while and wait for the breakout.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: