empty
 
 
04.03.2022 03:47 PM
Technical analysis of GBP/USD for March 04, 2022

This image is no longer relevant

Overview :

Pair : GBP/USD :

The past 4 days had been a blast for US dollar against pound, after dropping to the bottom of the trading range between 1.3292 and 1.3254.

The Relative Strength Index (RSI) is considered oversold because it is below 30. There is an apparent divergence between the price and the RSI on the 15M time frame. Additionally, the RSI is still calling for a strong bearish market as well as the current price is also below the moving average 100 and 50.

The GBP/USD pair has broken support at the level of 1.3292 which acts as resistance now. Thus, the pair has already formed minor resistance at 1.3292.The strong resistance is seen at the level of 1.3316 because it represents the weekly support 1.

However, if the pair fails to pass through the level of 1.3292, the market will indicate a bearish opportunity below the new strong resistance level of 1.3292 (the level of 1.3292 coincides with a ratio of 23.6.8% Fibonacci).

Thus, the market is indicating a bearish opportunity below 1.3292 so it will be good to sell at 1.3292 or/and 1.3255 with the first target of 1.3230.

It will also call for a downtrend in order to continue towards 1.3211. The daily strong support is seen at 1.3211.

The GBP/USD pair breaks through the support level of 1.3211, a further decline to 1.3150 can occur which would indicate a bearish market.

We don't think that the trend will know a reversal today, in overall, we still prefer the bearish scenario.

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $10000 más!
    ¡En Enero, sorteamos $10000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback