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28.03.201820:12 Forex Analysis & Reviews: Daily analysis of GBP/USD for March 29, 2018

Long-term review

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The pair remains well consolidated above the 200 SMA at the H1 chart, where it found support during March 27th session. Such area helped to give a boost to the Cable in the short-term and we can expect further rallies toward the resistance zone of 1.4225. To the downside, if GBP/USD manages to break below the moving average, then it can go to test the March 20th lows.

H1 chart's resistance levels: 1.4225 / 1.4269

H1 chart's support levels: 1.4136 / 1.4061

Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.4225, take profit is at 1.4269 and stop loss is at 1.4185.

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