Technical analysis of GBP/USD for March 12, 2018 888011000 110888 Introduction: Pivot point: 1.3813. The GBP/USD pair is still trading around the daily pivot point (1.3813). It continued to move down from the level of 1.3813 down around 1.3765. Today, the first resistance level is seen at 1.3813 followed by 1.3876, while the everyday assistance 1 is seen at 1.3711. Additionally, the moving average(100 )starts signifying a down trend; for that the market is suggesting a bearish opportunity below the area of 1.3813/ 1.3760. It will be excellent to sell at 1.3813 or 1.3760 with the very first target of 1.3711. It will also require a downtrend in order to continue to 1.3650. The strong daily assistance is seen at the 1.3650 level, which represents the double bottom on the H1 chart. According to the previous events, we anticipate the GBP/USD pair to trade between 1.3813 and 1.3650 in coming days. The rate area of 1.3813 stays a significant resistance zone. Hence, the trend is still bearish as long as the level of 1.3813 is not broken. On the contrary, in case a turnaround happens and the GBP/USD pair breaks through the resistance level of 1.3927, then a stop loss ought to be placed at 1.3927. The material has actually been supplied by

By | March 12, 2018

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