GBPUSD Rises as Buyers Regain Stance 

Market Analysis – March 25th

GBPUSD rises as buyers regain stance. The GBPUSD pair started its downward journey when sellers shorted from the 1.25930 market level. Their actions were met with success as they managed to exert their dominance over the market.

The sellers’ stronghold was further solidified when they breached the crucial level of 1.28040, sending the pair into a downward spiral. For a few days, it seemed like the sellers had complete control, leaving the buyers scrambling to react to this sudden turn of events.

GBPUSD Key levels

Resistance Levels: 1.28920, 1.28040 
Support Levels: 1.25930, 1.23700

GBPUSD Long-Term Trend: Bearish

However, the buyers were not ready to concede defeat just yet. They mustered their strength and began to fight back, slowly but steadily. Their efforts were evident as they managed to push the pair back up towards the 1.25930 key level. It was a testament to their resilience and determination to regain control.

The buyers’ rise was further supported by the moving average convergence and divergence indicator (MACD), which reflected the increasing bullish strength on the daily chart.

GBPUSD Short-Term Trend: Bullish

While the buyers made significant progress, it is important to note that the sellers still hold major control over the GBPUSD pair. Their dominance cannot be underestimated, and they have the potential to cause a dive below the significant level of 1.25930.

The Parabolic SAR Stop and Reverse indicator serves as a reminder of the sellers’ influence, as it indicates that they still wield more control at this time. Traders must remain cautious and vigilant, as the tide can quickly change in the forex market. By subscribing to reliable forex signal services, traders can gain a competitive edge and increase their chances of success.

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