empty
 
 
05.03.2021 10:50 AM
Technical Analysis of GBP/USD for March 05, 2021

This image is no longer relevant

Overview :

The GBP/USD pair posted a weekly reversal candle at an important short-term level from the spot of 1.4240 and 1.3982.

The high price of the candle was just a few pips below the strongest resistance levels of 1.4240, 1.4091 and 1.3982.

The GBP/USD pair broke support which turned to strong resistance at the level of 1.3982 yesterday.

The level of 1.3982 coincides with 61.8% of Fibonacci, which is expected to act as major resistance today.

Since the trend is below the 61.8% Fibonacci level, the market is still in a downtrend.

From this point, the GBP/USD pair is continuing in a bearish trend from the new resistance of 1.3982. Currently, the price is in a bearish channel.

According to the previous events, we expect the GBP/USD pair to move between 1.3982 and 1.3565.

On the H1 chart, resistance is seen at the levels of 1.3982 and 1.3902. Also, it should be noticed that, the level of 1.3902 represents the daily pivot point.

Therefore, strong resistance will be formed at the level of 1.3982 providing a clear signal to sell with the targets seen at 1.3800.

If the trend breaks the support at 1.3800 (first support) the pair will move downwards continuing the development of the bearish trend to the level 1.3565 in order to test the daily support 2 - last bearish wave, bottom. However, stop loss is to be placed above the level of 1.4240.

Mourad El Keddani,
Especialista em análise na InstaForex
© 2007-2024
Ganhe com as variações das taxas das criptomoedas com a InstaForex.
Baixe o MetaTrader 4 e abra a sua primeira operação.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    PARTICIPE DO CONCURSO
  • Chancy Deposit
    Deposite US $ 3.000 em sua conta e receba $1000 mais!
    Em Abril nós sorteamos $1000 na campanha Chancy Deposit!
    Tenha a chance de ganhar, depositando $3,000 em sua conta de negociação. Após cumprir essa condição, você se torna um participante da campanha.
    PARTICIPE DO CONCURSO
  • Trade Wise, Win Device
    Abasteça a sua conta com pelo menos $500, inscreva-se no concurso e tenha a chance de ganhar dispositivos móveis.
    PARTICIPE DO CONCURSO
  • Bônus de 100%
    Sua oportunidade única de receber um bônus de 100% em seu depósito
    RECEBA O BÔNUS
  • Bônus de 55%
    Solicite um bônus de 55% em cada depósito
    RECEBA O BÔNUS
  • Bônus de 30%
    Receba um bônus de 30% toda vez que você fizer um depósito em sua conta
    RECEBA O BÔNUS

Recommended Stories

Não pode falar agora?
Faça sua pergunta no chat.
Widget callback