empty
 
 
24.03.2022 05:28 PM
Trading signal for GBP/USD for March 24 - 25, 2022: sell below 1.3199 (4/8 Murray - SMA 21)

This image is no longer relevant

On March 23, the GBP/USD pair reached a high of 1.3297, a level that coincides with the 200 EMA which acted as strong resistance.

The British pound failed to break out the 200 EMA and consolidate above it, so it started a technical correction. Today in the American session, GBP/USD is trading below the 21 SMA located at 1.3199.

From a technical viewpoint, trend indicators on the daily chart still remain in bearish territory and warn about further losses for the pound.

According to the 4-hour chart, the British pound is still trading below the 200 EMA. The outlook also remains negative and GBP/USD is likely to resume its bearish move in the coming days.

Downside pressure below the area 21 SMA (1.3199) will reaffirm the negative outlook and make the GBP/USD pair vulnerable to falling near the level 1.3061(5/8 Murray).

The British pound is struggling to sustain an uptrend as investors are reacting to a dovish assessment of the BoE decision last week.

As long as GBP/USD trades below the level of 1.3285 (200 EMA), it will suggest that the recent recovery move from yearly lows is over. This, in turn, will set the stage for a resumption of the downtrend. The GBP/USD pair could accelerate its decline and challenge the key psychological level of 1.3000.

On the other hand, a sustained move above the level 1.3200 could help the recover GBP/USD and reach 1.3288 and even 5/8 Murray at 1.3305.

Our trading plan is to sell below the 21 SMA (1.3199) and below the 4/8 Murray at 1.3183 with targets at 1.3061 and 2/8 Murray at 1.2939. The eagle indicator supports our bearish strategy because it is in the overbought zone.

Dimitrios Zappas,
InstaForex के विश्लेषणात्मक विशेषज्ञ
© 2007-2024
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.
    कॉन्टेस्ट में हिस्सा लें
  • चैन्सी डिपॉजिट
    $ 3,000 के साथ अपना खाता जमा करें और प्राप्त करें $5000 अधिक!
    में नवंबर हम आकर्षित करते हैं $5000 चैंसी डिपॉज़िट में
    ट्रेडिंग अकाउंट में $ 3,000 जमा करके जीतने का अवसर प्राप्त करें इस शर्त को पूरा करके आप प्रतियोगिता में भाग ले सकते हैं
    कॉन्टेस्ट में हिस्सा लें
  • ट्रेड वाइज़, विन डिवाइस
    कम से कम $500 के साथ अपने खाते में टॉप अप करें, कॉन्टेस्ट के लिए साइन अप करें और मोबाइल डिवाइस जीतने का मौका पाएं।
    कॉन्टेस्ट में हिस्सा लें
  • 100% बोनस
    अपनी जमा राशि पर 100% बोनस प्राप्त करने का आपका अनूठा अवसर
    बोनस पायें
  • 55% बोनस
    अपनी प्रत्येक डिपॉजिट पर 55% बोनस के लिए आवेदन करें
    बोनस पायें
  • 30% बोनस
    हर बार खाता टॉप अप करने पर 30% बोनस प्राप्त करें
    बोनस पायें

अनुशंसित लेख

अभी बात नहीं कर सकते?
अपना प्रश्न पूछें बातचीत.
Widget callback