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Farooq

Technical Analysis – GBPUSD _ 22-03-2019

HomeTechnical AnalysisTechnical Analysis – GBPUSD _ 22-03-2019
22
Mar
Technical Analysis – GBPUSD _ 22-03-2019

The pair has received support from the bullish trend line shown on the chart during yesterday’s trading to witness some positive movements during today’s trading. The breach of resistance 1.3340 (the first objective of the ascending scenario) may push the pair higher towards the second target at 1.3480 and then 61.8% of the general bearish wave around 1.3630 as a third target.
A breach of the uptrend line, which is confirmed by a four-hour closing below 1.3000, might be enough to end the bullish scenario, and the pair could then head to test support at least 1.2780..


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