empty
 
 
01.03.2021 05:53 PM
March 1, 2021 : GBP/USD Intraday technical analysis and trade recommendations.

This image is no longer relevant

Recently, the GBPUSD pair looked overbought while consolidating sideways around the price-levels of 1.3700.

Sideway movement with slight bullish tendency was recently demonstrated while approaching these price levels around 1.3700-1.3750.

Thats's why, Bearish pullback was recently expressed. However, the GBP/USD pair has failed to maintain sufficient bearish momentum.

Instead, Another temporary bullish movement was expressed above the previous WEEKLY High (1.3700).

Further upside movement was expected towards the upper limit of the current movement channel around 1.4100-1.4150 where bearish rejection and a possible SELL Entry are expected to be present especially with the recent overbuying status of the pair.

Short-term outlook can turn into bearish if only the GBP/USD pair could break below and maintain movement below 1.3900 which corresponds to a recent prominent KeyZone.

If so, a quick bearish decline towards 1.3400 would be expected.

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 $8000 more!
    In March we raffle $8000 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