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30.03.202217:30 Forex Analysis & Reviews: GBP/USD trading signals on 30th March

Exchange Rates 30.03.2022 analysis

GBP/USD has continued to push higher in the American session amid broad-based selling pressure surrounding the greenback. The pair is trading above 1.3170 with the US Dollar Index staying deep in the red below 98.00 despite upbeat ADP data.

GBP/USD is facing immediate resistance at 1.3140, where the 100-period SMA is located, before 1.3160 (Fibonacci 38.2% retracement of the latest downtrend, 50-period SMA). In case the pair climbs above the latter and start using it as support, it could target 1.3200 (Fibonacci 50% retracement, psychological level) next.

On the downside, 1.3100 (psychological level, Fibonacci 23.6% retracement) aligns as critical support. With a four-hour close below that level, the pair could decline toward 1.3050 (static level).

*Analisis pasar yang diposting disini dimaksudkan untuk meningkatkan pengetahuan Anda namun tidak untuk memberi instruksi trading.

Jan Novotny,
Analytical expert of InstaSpot
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