Categories: Technical analysis

GBPUSD Wave Analysis – 10 March, 2020

  • GBPUSD reversed from resistance area
  • Likely to fall to 1.3000

GBPUSD recently reversed down from the resistance area lying between the key resistance level 1.3200 (which has been reversing the price from January) and the upper daily Bollinger Band.

The downward reversal from this resistance area created the daily Japanese candlesticks reversal pattern Shooting Star.

GBPUSD is likely to fall further toward the next round support level 1.3000 (former resistance level from the end of February).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: GBPUSD

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