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17.03.2023 09:05 AM
GBPUSD, H4 | Potential reversel from trendline?

The GBP/USD chart currently exhibits bearish momentum, as the price remains below a significant descending trend line. This indicates that the currency pair may undergo further downward pressure in the near future.

In case the price rises, it could face a potential bearish reaction at the 1st resistance level and subsequently drop towards the 1st support. The 1st support level, situated at 1.1927, is a robust overlap support. Additionally, the intermediate support level at 1.2010, which corresponds to a swing low support and a 50% Fibonacci retracement, could also serve as a crucial level to monitor.

Conversely, if the price breaks above the 1st resistance level at 1.2141, it may advance towards the 2nd resistance level located at 1.22074, which represents a multi-swing high resistance.

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Dean Leo,
Analytical expert of InstaForex
© 2007-2023
USDJPY, H4| Falling to 1st support?r?
The USD/JPY is currently showing a bearish trend. In the near term, the price could potentially continue to fall towards the first support level at 137.75, known as an overlap support. There's also a second support level at 136.25. Conversely, resistance levels are set at 139.40, which aligns with.
Author: Dean Leo
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XAUUSD, H4 | Potential react off resistance?
The XAU/USD (Gold) is currently displaying bullish momentum with potential for a rise from the first support level at 1937.30 towards the first resistance at 1952.59. Two key support levels are identified as 1937.30 and 1913.98, both serving as overlap support. The resistance levels are at 1952.59,.
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USDCHF, H4 | Bullish Divergence Expected?
The USD/CHF pair is currently in a bearish trend but is above a key upward trend line, indicating possible future bullish momentum. Near-term predictions anticipate a further drop to the first support level at 0.9005 before potentially bouncing back towards the first resistance. This support level.
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