Market Analysis – March 27
GBPUSD seems stuck between the significant levels of 1.2450 and 1.1820. Since the market ascended into the region, it has not been able to break out on both sides of the market.
GBPUSD Key Levels
Demand Levels: 1.1820, 1.1570, 1.1150
Supply Levels: 1.2450, 1.2660, 1.2700
GBPUSD Long-Term Trend: Ranging
In November, the Demand level of 1.1150 was very sensitive. The pullback from 1.1570 paused immediately at the test of the support level. The Williams Percent Range tipped below the -80 mark (oversold level), which caused a sudden halt of the pullback at 1.1150. The Parabolic SAR (Stop and Reverse) formed points immediately resting below the daily candles on the daily chart, showing the resumption of an uptrend.
A bullish order-block was left unmitigated at the 1.1570 support level. The market rose steadily to the supply zone of 1.2450 in December. The Williams Percent Range was already oversold. After a shift in the market structure, the price decline ed back to the 1.1820 support level. The support level has been tested three times since December without a successful breakout. Similarly, the supply level of 1.2450 has been tested twice since December without a successful breakout.
GBPUSD Short-Term Trend: Bullish
On the lower timeframe, the market is Bullish. The market is ascending to the supply zone again at 1.2450. The market is expected to fall back to 1.1820 since the Williams Percent Range is overbought. However, a breakout may play out to push the price to 1.2660
You can purchase Lucky Block here. Buy LBLOCK
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
- Broker
- Min Deposit
- Score
- Visit Broker
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Award-winning Cryptocurrency trading platform
- 14 Cryptoassets available to invest in
- FCA & Cysec regulated
Highly volatile unregulated investment products. No EU investor protection.
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
