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GBPUSD Price May Experience Bullish Reverse at $1.36 – Cryptovibes.com – Daily Cryptocurrency and FX News

GBPUSD Price May Experience Bullish Reverse at $1.36 – Cryptovibes.com – Daily Cryptocurrency and FX News


GBPUSD Price Analysis – March 25

Should the Bulls increase their momentum and break up $1.37 level, then, there may be a bullish movement to test $1.38 and $1.39 levels. In case the Bulls are unable to break up $1.37, GBPUSD price may decrease towards the $1.36, $1.35 and $1.34 levels.

GBPUSD Market

Key levels:

Resistance levels: $1.37, $1.38, $1.39

Support levels: $1.36, $1.35, $1.34

 

GBPUSD Long-term trend: Bearish

On the daily chart, GBPUSD was on the sideways movement within $1.38 and $1.39 levels last week. This week, the bears dominates the market and the price decline towards the support level at $1.37. The mentioned level could not hold the price, bearish momentum extends to $1.36; this is another significant support level. Today, it seems the price is pulling back to retest the broken level of $1.37 with the formation of daily bullish candle.

The currency pair is trading below the two EMAs where the 21 periods EMA and 9 periods EMA are far apart to each other which connote the strong bears’ pressure.  The relative strength index period 14 is at 40 levels with the signal lines turning up to indicate a buy signal. Should the Bulls increase their momentum and break up $1.37 level, then, there may be a bullish movement to test $1.38 and $1.39 levels. In case the Bulls are unable to break up $1.37, GBPUSD price may decrease towards the $1.36, $1.35 and $1.34 levels.

 

GBPUSD Medium-term Trend: Bearish

On the medium-term outlook, GBPUSD is on the bearish movement.  Immediately the currency pair broke out the symmetrical triangle formed on the 4-hour chart, the price continuously decreasing to $1.36 price level. Short period consolidation was carried out. At moment the bearish momentum is getting weak. The bulls may take over the market soon.

The price is trading above 9 periods EMA moving towards the 21 periods EMA. The relative strength index period 14 is at 40 levels bending up which connotes buy signal.

 

 

 

 

 



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