The GBP / USD pair, before the opening of the American session, in 1-hour charts is trading above the SMA of 21 and below the EMA of 200, it is still under downward pressure, we expect a rebound in the support zone of 1.3830 / 25.
At the opening of the session this week the GBP / USD, left a bearish GAP, reaching the minimum of 1.3814, after a few hours in the European session this GAP has closed, now it must face the EMA of 200 at 1.3916 .
In the 1-hour chart, we note that the GBP / USD pair has strong support at 1.3825, due to the fact that the last candles have left several rejection wicks, which means that this level could give the pound a new upward momentum up to 1.3916 area of 1/8 of Murray.
On the other hand, the break of 1.3825, and a trade below this strong support, we could expect a continuation of the downward pressure to the support of the downtrend channel around 1.3790.
The eagle indicator in 1-hour charts is in the oversold zone, showing a sign of a possible upward movement. The key level is 1.3825. As long as the pair remains above this level, there could be a recovery for the British pound.
Market sentiment for Monday shows 41.23% of operators who are selling the GBP / USD pair. This is a sign that in the short term there could be a downward movement to the 1.3670 area.
Support And Resistance Levels For March 22 - 23, 2021
Resistance (1) 1.3855
Resistance (2) 1.3880
Resistance (3) 1.3906
Support (1) 1.3826
Support (2) 1.3762
Support (3) 1.3689
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Trading tip for GBP/USD for March 22 - 23, 2021
Buy if rebound 1.3825 (Strong Support), with take profit at 1.3870 and 1.3916, stop loss below 1.3780.
Sell if breaks at 1.3810 (Strong Support), with take profit at 1.3780, and 1.3672 (0/8) stop loss above 1.3845.
