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GBPUSD Technical Analysis and Key Levels

GBPUSD Technical Analysis and Key Levels

Published: 03-28-2018

GBPUSD tested Fibonacci 61.8% of XA 1.40700 and completed the correction.

1.42450 is the important resistance. Breakout of this resistance will take the price 1.44000 in the midterm.

Intraday Key Levels:

On the upside: 1.42200  1.42450 1.42800

On the downside: 1.41450 1.41000 1.40380

H4 closing below 1.41000 may change the short term trend. Pullback levels to use as buying opportunities are 1.41500 and 1.41090.

We have two bearish harmonic patterns above 1.42500 and both would be completed around 1.44100 – 1.44200.

We will look for a short opportunity at 1.44100 for a correction. We keep our bullish positions.

RISK MANAGEMENT IS THE KEY TO SUCCESS IN FX TRADING. 

DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.

 

GBPUSD Technical Analysis:   Involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

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