empty
 
 
22.03.2022 02:56 PM
GBPUSD bounces higher.

In our previous analysis on GBPUSD we talked about the break out and above the wedge pattern and the horizontal resistance at 1.32. Today price is breaking above this resistance providing an added bullish signal.

This image is no longer relevant

Red lines - wedge pattern (broken)

Blue rectangle- horizontal resistance

GBPUSD has made a higher low after the wedge break out and is now breaking above the resistance at 1.32. As we mentioned in our previous analysis holding above 1.32 is key. If bulls manage to defend 1.32 then we should soon expect price to reach 1.3360-1.3390. Support is at 1.32 and next at 1.3118.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback