country flagالعربية

Best Opportunities, Vision and Technical Analysis for the GBP/USD pair 20 March 2019

2019-03-20 08:11 am | Resource: Technical Analysis | No Views : 37

Time frame Used – 60 MIN
The GBP/USD is moving in a sideway direction in the near term.
GBP/USD faced resistance and selling pressure around the 1.3300 level and once again dropped to 1.32 levels.
  In view of the technical indicators
Both the RSI and the Stochastic are indicating the arrival of indicators to the oversold area.
Therefore, we expect that the GBP/USD will retest at 1.3286 - 1.3300 again and this scenario fails in the case of instability above level of  1.3200.
The alternative scenario is that the GBP/USD pair retreated below 1.3196 to test the 1.3000 - 1.2966 levels again.
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.
Our view is currently neutral around GBP/USD.
The fundamental overview
• On the economic data level, traders are following up on the Brexit, In addition to the release of British consumer price data on a monthly basis at 4.30 am GMT, in addition to the release of retail price data on an annual basis at 4.30 am GMT, in addition to the issuance of input and output data on a monthly basis at 4.30 am As well as the release of house price data on a year-to-date basis at 4.30 am GMT, as well as CBI Industrial Expectations data at 6 am GMT.
• On the other hand, the Federal Reserve Economic Outlook data will be released at 1 pm GMT, as well as Federal Reserve data releases at 1 pm GMT, as well as the Federal Reserve's statement at 1 pm GMT, To the Federal Reserve Committee press conference at 1.30 pm GMT.
Resistance: 1.3286 - 1.3344 - 1.3425
Support: 1.3196 - 1.3000 - 1.2966
Direction: sideway
Technical Analysis
Forex Analysis
Bitcoin News

Other news

Dollar fell after the unemployment data and durable goods orders

The dollar fell on Thursday after the number of people applying for unemployment rose more-than-expected last week. US durable goods orders rise in March Reflecting a sharp rebound in transport equipment orders, the Commerce Department released a report on Thursday showing new orders for durable goods manufactured in the US jumped more than expected in March. Durable goods orders rose 2.7 percent in March after a revised 1.1 percent drop…

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 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.