country flagالعربية
0
0

Best Opportunities, Vision and Technical Analysis for the GBP/USD pair 14 March 2019

2019-03-14 11:22 am | Resource: Technical Analysis | No Views : 143

Time frame Used - four hours
The GBP/USD is moving in a sideway direction in the near term.
GBP/USD CHART
The GBP/USD continues to recover some of its losses during the past sessions as the bulls managed to push the GBP/USD pair higher to reach the 1.3348 resistance level as it faces resistance and selling pressure around this level.
  In view of the technical indicators
Both the RSI and the Stochastic are indicating to the arrival of indicators in the overbought area.
Therefore, we expect that the GBP/USD will retest level of 1.3238 - 1.3150 again and this scenario fails at stability at 1.3348.
The alternative scenario is that the GBP/USD breach level of 1.3385 to test the 1.3530 levels.
Big Picture
Looking at the daily chart of the GBP/USD pair, we note that the GBP/USD falling below level of 1.3196, but rebounded again trying to break above the resistance level of 1.3196 and stability above it, as the indicators indicate confirmation of the upside move.
GBP/USD DAILY CHart
recommendation
Sell the GBP/USD around level of 1.3348 for targeting levels of 1.3238 - 1.3150 With the activation of stop loss in case of closure above the level of 1.3348.
The fundamental overview
• On the economic data level, traders are following up on the Brexit, as the British Parliament will vote on the Brexit agreement .
• On the other hand, unemployment and US import data will be released at 7:30 am GMT, as well as new US home sales data at 9 am GMT.
Resistance: 1.3348 - 1.3430 - 1.3530
Support: 1.3238 - 1.3150 - 1.3000
Direction: sideway
Technical Analysis
Forex Analysis
Bitcoin News


Other news

Sterling price fell against major with uncertainty due to Brexit

The pound came under pressure against its main rivals at the European session on Wednesday, as concerns over Britain's exit from the European Union intensified after UK lawmakers rejected Prime Minister Boris Johnson's proposed timetable for pushing the deal ahead of the October 31 deadline. Faradkar: Brexit will last for a long time  Irish Prime Minister Leo Faradkar predicted on Wednesday that Britain's pullout from the European Union "will last…

More news

Best trading brokers

All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any doubts.TradingPekk.com does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.