GBP/USD D1 Technical March 08

The trend for the GBP/USD is not clear yet. Bollinger bands are also tighten due to oversold of GBP. The range of pair is now from 1.4950-1.5075. Today pair is expecting to test its resistance 1.5070. Price action on this level should be watch carefully. If pair manage to break this level and H4 candle close above it then pair is likely to move further upward.

On the contrary, Break of support level 1.4950 will open gate towards southward and GBP/USD will then target 1.4900 level.

High impact News can affect the movement of pair. News like Non-Farm Employment Change, Unemployment Rate.


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