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GBPUSD Is Ranging Within $1.39 and $1.38 Level, Breakout Is Imminent – Cryptovibes.com – Daily Cryptocurrency and FX News

GBPUSD Is Ranging Within $1.39 and $1.38 Level, Breakout Is Imminent – Cryptovibes.com – Daily Cryptocurrency and FX News


GBPUSD Price Analysis – March 18

Should the Bulls increase their momentum, then, there may be a bullish breakout at the $1.39 price level and the price may reach $1.40 and $1.41 levels. In case the Bulls lose the pressure, GBPUSD may break out at the $1.38 level and this may lead to price reduction to $1.37 and $1.30.

GBPUSD Market

Key levels:

Supply levels: $1.39, $1.40, $1.41

Demand levels: $1.38, $1.37, $1.30

GBPUSD Long-term trend: Ranging

On the daily chart, GBPUSD is on the sideways movement. GBPUSD is range bound within the resistance level of $1.39 and the support level of $1.38. The bulls and bears were unable to break $1.39 and $1.38 levels respectively. Certainly, the breakout is imminent; it could be either at the upper level of the range or at the lower level of the range. Today’s daily candle is bearish and it may also close bearish; which indicate that there is a possibility for the breakout to take place at the lower trend line.

 

The currency pair is trading up and down over the two EMAs where the 21 periods EMA and 9 periods EMA are flat showing no direction within the range level.  The relative strength index period 14 is at 50 levels with the signal lines turning down to indicate a sell signal. Should the Bulls increase their momentum, then, there may be a bullish breakout at the $1.39 price level and the price may reach $1.40 and $1.41 levels. In case the Bulls lose the pressure, GBPUSD may break out at the $1.38 level and this may lead to price reduction to $1.37 and $1.30.

 

GBPUSD Medium-term Trend: Ranging

On the medium-term outlook, GBPUSD is on the sideways movement. Formation of the symmetrical triangle on the 4-hour chart is confirmed. The price is currently touching the lower trend line of the symmetrical triangle with the high probability that it will break down the lower trend line.

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The bearish candle emerged and the relative strength index period 14 is at 50 levels making attempt to bend down which connotes sell signal.

 

 

 

 

 



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