Site map
العربية Български 中文 Čeština English Français Deutsch हिन्दी Bahasa Indonesia Italiano Bahasa Malay اردو Polski Português Română Русский Srpski Slovenský Español ไทย Nederlands Українська Vietnamese বাংলা Ўзбекча O'zbekcha Қазақша

InstaForex Client Area

  • Personal settings
  • Access to all InstaForex services
  • Detailed statistics and reports on trades
  • Full range of financial transactions
  • System of managing several accounts
  • Maximum data protection

InstaForex Partner Area

  • Full information on clients and commissions
  • Graphic statistics on accounts and clicks
  • Webmaster instruments
  • Ready-made web solutions and wide range of banners
  • High data protection level
  • Company's news, RSS feeds, and forex informers
Register
cabinet icon

InstaForex – always at the forefront!Open a trading account and become a part of the InstaForex Loprais Team!

Success history of the team headed by Ales Loprais can become your success history! Trade confidently and head towards leadership like regular participant of Dakar Rally and winner of Silk Way Rally InstaForex Loprais Team does it!

Join in and win with InstaForex!

Instant account opening

Get a letter of instructions
toolbar icon

Trading Platform

For mobile devices

For trading via browser

GBP/USD

The British pound traded in the range of 260 points on Monday, consolidating under the Fibonacci level of 238.2% on the daily scale chart. Today in the Asian session, the price went above this level on the growing Marlin oscillator with the clear intention to continue the correction. The first and most significant target is the 200.0% Fibonacci level at 1.1935. The price already tested this level on Friday.

Exchange Rates 24.03.2020 analysis

The MACD line approaches the target level of 1.1935 on the four-hour chart, which creates its significance. The signal line of the Marlin oscillator in the last two days has created a narrow consolidation (marked in gray) and it has gone up this morning, creating an impulse to increase the price.

Exchange Rates 24.03.2020 analysis

So, we are waiting for the correction growth of the British pound to continue to the designated goal of 1.1935, but also follow the intermediate level of 1.1750 at the Fibonacci level of 223.6%. At this level, there is a balance line (red indicator), which is a certain obstacle to price growth.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Laurie Bailey,
Analytical expert
InstaForex Group © 2007-2020
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.