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FX.co ★ GBP/USD update for March 16, 2022 - Bull divergence and bigger rally already started

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Forex Analysis:::2022-03-16T12:38:45

GBP/USD update for March 16, 2022 - Bull divergence and bigger rally already started

Technical analysis:

GBP/USD update for March 16, 2022 - Bull divergence and bigger rally already started

GBP/USD has been trading upside as I expected. Price is heading towards upside objectives with good momentum.

Trading recommendation:

Due to bullish divergence in the background and upside pressure today, I see potential for further bullish movement.

Watch for potential buying opportunities on the dips with the upside objectives at 1.3190 and 1.3275.

MACD is showing bullish divergence, which is another sign for further rally....

Key support is set at the price of 1.3000

Analyst InstaForex
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