empty
 
 
22.03.2017 12:13 PM
GBP/USD analysis for March 22, 2017

This image is no longer relevant

Recently, the GBP/USD pair has been trading upwards. As I expected, the price tested the level of 1.2506. According to the 5M time frame, I found corrective ABC pattern, which is a sign that selling looks risky. The short-term trend is bullish and my advice is to watch only for buying opportunities. You can place pending buy stop order at the price of 1.2491. Upward targets will be set at the price of 1.2506 and 1.2558.

Resistance levels:

R1: 1.2500

R2: 1.2535

R3: 1.2595

Support levels:

S1: 1.2380

S2: 1.2340

S3: 1.2280

Trading recommendations for today: watch for potential buying opportunities.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback