empty
 
 
31.03.2023 06:19 AM
Trading Signal for GBP/USD for March 31, 2023: sell below 1.24 or if pullback at 1.2451 (21 SMA - 6/8 Murray)

This image is no longer relevant

Early in the European session, the British pound is trading around 1.2400, above the 21 SMA, and above the uptrend channel formed since March 7.

In the last few minutes, the British pound reached a high of 1.2421. However, as it could not sustain this price level, we are seeing a technical correction.

In case the pound falls below 1.24, we could expect it to retrace towards the 5/8 Murray located at 1.2329 or towards the 21 SMA located at 1.2336.

If the British pound resumes its bullish move, it could face strong resistance around 6/8 Murray located at 1.2451.

A daily close and sharp break below 1.2329 (5/8 Murray) could be a sign of a reversal and trend change and the pound could reach the area of 4/8 Murray at 1.2207. If bearish pressure prevails, the instrument could decline to 1.2164 (200 EMA).

Below the 200 EMA located at 1.2164, it would be clearly established that the British pound is in a bearish phase and GBP/USD could fall to the psychological level of 1.20 and finally hit the low of March 8 located at 1.1801.

On March 17, the eagle indicator entered a bearish phase which is likely because this divergence is showing that the market volume is running out, so a strong technical correction could occur in the next few days.

Dimitrios Zappas,
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 Junho 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