Veja também
22.03.2023 09:18 AMTechnical Market Outlook:
The GBP/USD pair has made a new swing high at the level of 1.2283 and then the bears started the pull-back. Currently, the pull-back is done with a low at the level of 1.2178 and just ahead of the UK CPI data release the bulls are trying to resume the up trend. The momentum is strong and positive, so the outlook remains bullish as the market conditions are not extremely overbought on the H4 time frame chart anymore. In a case of a further extension to the upside, the next target for bulls is seen at the level of 1.2396 and 1.2447 (swing high).
Weekly Pivot Points:
WR3 - 1.22458
WR2 - 1.22140
WR1 - 1.21963
Weekly Pivot - 1.21822
WS1 - 1.21645
WS2 - 1.21504
WS3 - 1.21186
Trading Outlook:
So far the level of 1.2443 was too strong resistance to break through, so a potential Double Top price pattern is still in play. Moreover, the level of 1.2297 which is 50% Fibonacci retracement level of the last big wave down had been hit, so the bears resumed the down trend. The down trend was confirmed with the level of 1.2089 breakout (50 WMA), so now the potential target for bears is seen at the level of 1.1840 or below.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
