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22.03.202409:23 Forex Analyse & Reviews: Indicator Analysis of GBP/USD on March 22, 2024

Trend analysis (Fig. 1).

The GBP/USD currency pair may move downward from the level of 1.2654 (closing of yesterday's daily candle) to 1.2611, the historical support level (blue dotted line). In the case of testing this level, an upward movement is possible with a target of 1.2661, the 61.8% pullback level (yellow dotted line).

Exchange Rates 22.03.2024 analysis

Fig. 1 (daily chart).

Comprehensive analysis:

  • Indicator analysis – down;
  • Fibonacci levels – down;
  • Volumes – down;
  • Candlestick analysis – up;
  • Trend analysis – down;
  • Bollinger bands – down;
  • Weekly chart – down.

General conclusion: Today, the price may move downward from the level of 1.2654 (closing of yesterday's daily candle) to 1.2611, the historical support level (blue dotted line). In the case of testing this level, an upward movement is possible with a target of 1.2661, the 61.8% pullback level (yellow dotted line).

Alternatively, from the level of 1.2654 (closing of yesterday's daily candle), the price may move downward to 1.2633 and then continue to move upward with a target of 1.2661, the 61.8% pullback level (yellow dotted line).

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Stefan Doll,
Analytical expert of InstaSpot
© 2007-2024
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