This week, the GBP/USD exchange rate has experienced notable fluctuations. As of March 22nd, the pair stood at 1.29114, down 0.00540 (0.42%) from the previous day. The intraday high reached 1.2971, while the low touched 1.2887. On Thursday (March 20th), the Bank of England announced its interest rate decision, keeping the benchmark rate unchanged at 4.5% with an 8-1 vote. Following the announcement, GBP/USD faced brief downward pressure as the central bank did not signal potential rate cuts. However, the pair later regained some ground due to a weakening US dollar index.
Closely monitor the breakout of key levels. The area above 1.3010 is a significant resistance level. If the exchange rate can decisively break through and stabilize above this level, consider going long on dips in the short term, targeting 1.3050 or higher. Below, the 1.2860 level is a crucial support zone. If the exchange rate breaks below this level and sustains the move, consider cutting losses or going short on rallies, as further downside potential may open up. Until the exchange rate clearly breaks through or falls below these key levels, it is advisable to remain on the sidelines and wait for clear trend signals to emerge.
I will share trading signals every day. All the signals have been accurate for a whole month in a row. If you also need them, please click on the link below the article to obtain them.
Closely monitor the breakout of key levels. The area above 1.3010 is a significant resistance level. If the exchange rate can decisively break through and stabilize above this level, consider going long on dips in the short term, targeting 1.3050 or higher. Below, the 1.2860 level is a crucial support zone. If the exchange rate breaks below this level and sustains the move, consider cutting losses or going short on rallies, as further downside potential may open up. Until the exchange rate clearly breaks through or falls below these key levels, it is advisable to remain on the sidelines and wait for clear trend signals to emerge.
I will share trading signals every day. All the signals have been accurate for a whole month in a row. If you also need them, please click on the link below the article to obtain them.
We share at least 3 - 5 free signals every day, with a monthly return of 300% - 500%. If you want to get accurate signals every day.Click the link to enter my Telegram channel.
t.me/+IFqHodtrHds0MDk0
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
We share at least 3 - 5 free signals every day, with a monthly return of 300% - 500%. If you want to get accurate signals every day.Click the link to enter my Telegram channel.
t.me/+IFqHodtrHds0MDk0
t.me/+IFqHodtrHds0MDk0
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.