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Technical Market Outlook
The GBP/USD pair has been seen trading inside a tight horizontal range since the local top was made at the level of 1.3210. The bullish pressure is strong and push of the price above the technical resistance located at 1.3194 might extend the rally towards the next target seen at 1.3240 and 1.3264. The market conditions are still overbought , however any violation of the level of 1.3121 will indicate a bearish market, so please keep an eye on this level and on the whole demand zone located between the levels of 1.3121 - 1.3140. The nearest technical resistance is seen at the level of 1.3194 and 1.3210.
Weekly Pivot Points:
WR3 - 1.3487
WR2 - 1.3345
WR1 - 1.3272
Weekly Pivot - 1.3138
WS1 - 1.3067
WS2 - 1.2918
WS3 - 1.2816
Trading Outlook:
If the market will break below the level of 1.3169, the up trend on the weekly time frame is terminated and the bears enforce and confirm their control over the market in the long term. The Cable is below 100 and 200 WMA already, so the bearish domination is clear. The next long term target for bears is seen at the level of 1.2751 and 1.2663. Please remember: trend is your friend.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
