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  1. #1
    Fx trend's Avatar
    Fx trend is offline Member
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    Nov 2010
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    39

    Default GBP/USD - how it looks like in March?

    The market continues to be in an uptrend aiming to reach the level of key resistance 1.6445. Support level 1.6240 pushes the pair to further growth. There is a high probability of growth of the pair above its resistance 1.6445, in this case very strong resistance 1.6740 will be achieved .

    Downtrend can start its development in case if the market stays below the support level 1.6045 - 1.6105, in this case it will achieve the key support at 1.5550, intermediate support level will be at 1.5825.




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  2. #2
    aurther11 is offline Junior Member
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    Nov 2011
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    19

    Default

    GBP/USD has mixed signals going into the new week. We have a daily uptrend and a test of support at the 1.6 round number which has provided a bullish hammer candle. This looks like providing some upside potential, at least in the short term, for this forex currency pair if the high of the hammer can be taken out. However, the weekly chart shows a bearish engulfing candle at resistance.

    I think a short term buy, on a break of the hammer, has a good probability of hitting the purple line through to 50 percent Fibonacci zone on my daily cable chart. I may play this with a tight stop.
    www.estocks.com

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