GBP/USD intraday technical analysis for March 26, 2013
March 26, 2013 2:15 pmVideo
Latest News
- 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 Analysis – Bullish pressure in AUDUSD lingers May 2, 2024
- Key events on May 2: fundamental analysis for beginners May 2, 2024
- Trading plan for GBP/USD on May 2. Simple tips for beginners May 2, 2024
- Trading plan for EUR/USD on May 2. Simple tips for beginners May 2, 2024
- Technical Analysis of Intraday Price Movement of EUR/USD Main Currency Pairs, Thursday May 02 2024. May 2, 2024
- Technical Analysis of Intraday Price Movement of Nasdaq 100 Index, Thursday May 02 2024. May 2, 2024
- Forecast for EUR/USD on May 2, 2024 May 2, 2024
- Forecast for GBP/USD on May 2, 2024 May 2, 2024
- Forecast for AUD/USD on May 2, 2024 May 2, 2024
- Bank of Japan is trapped and increasingly dependent on the Fed’s stance. Overview of USD/JPY May 2, 2024
- Trading Signals for GOLD (XAU/USD) for May 1-2, 2024: buy above $2,290 (21 SMA – 4/8 Murray) May 1, 2024
- Technical Analysis – US 500 index might hit lower levels after Tuesday’s slump May 1, 2024
- Technical Analysis – NZDUSD falls back towards 5-month low May 1, 2024
- Technical Analysis – USDJPY erases losses, but risks remain May 1, 2024
The price around 1.5300-1.5330 marks the upper limit of the consolidation pattern above 1.5075. Hence, formation of a lower high around 1.5220, followed by breakdown below 1.5075, has been enhancing the bearish sentiment of the market.
Also the daily closures, which were observed during the last two weeks, imply the continuation of the sell-off afterwards, provided that the pair remains below 1.5155-1.5220 (major supply zone on the 4H chart). However, this zone was broken last week. That is why, retesting of this zone will probably provide a short-term buy entry with SL as 4H closure below 1.5130.
Breakdown below support zone around 1.5150 will probably target 1.5076 initially. However, if this zone holds, the uptrend from 1.4830 will remain intact, targeting 1.5330.
It is important to note that yesterday’s daily candlestick was bearish engulfing pattern, which holds further pressure on 1.5150-1.5130 (the key-levels of today).
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: