empty
 
 
25.03.2022 10:40 AM
GBP/USD update for March 25, 2022 - Breakout of rising trendline in the background

Technical analysis:

This image is no longer relevant

GBP has been trading side that the price of 1.3185. I see potential for the downside movement due to the breakout of the rising trend-line in the background.

Trading recommendation:

Due to the breakout of the rising trend-line in the background and failed breakout of the mini consolidation, I see potential for the downside movement.

Watch for potential selling opportunities in case of the breakout of support at 1.3160.

Downside objectives are set at 1.3110 and 1.3005

Stochastic oscillator is showing overbought condition, which is another sign for the downside rotation.

Resistance is set at 1.3284

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 $10000 more!
    In January we raffle $10000 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