empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

26.03.202005:12 Forex Analysis & Reviews: Forecast for GBP/USD on March 26, 2020

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

GBP/USD

The British pound traded in a wide range of 340 points in the range of Fibonacci levels of 238.2% and 200.0% yesterday. The correction goal at the level of 200.0% was thus fulfilled. The signal line of the Marlin oscillator begins to turn down, but not yet deep enough to accept the upcoming reversal as the beginning of a new downward movement. In case of overcoming yesterday's high (1.1972), it is possible to deepen the correction to the Fibonacci level of 161.8% at the price of 1.2235.

Exchange Rates 26.03.2020 analysis

The price is above the MACD line and the balance line on the four-hour chart, which is the main sign of maintaining potential for further growth. The first condition for moving down should be consolidating the price under the Fibonacci level of 223.6% at the price of 1.1750, after which there will be a movement to the level of 238.2% at the price of 1.1638 (yesterday's low) and only after overcoming it the target opens at the Fibonacci level of 271, 0% at the price of 1.1375.

Exchange Rates 26.03.2020 analysis

Laurie Bailey
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off