KENJICHEN

0322-GBPUSD Analysis

Long
FX:GBPUSD   British Pound / U.S. Dollar

GBPUSD
British pound experienced mass downward pressure recent days, however, pound hold 1.3000 level, relevant trend pivot level, and got quickly renounce to 1.31.

In today's view, pound may need second downward to check if 1.31/1.30 is really supportive or not, moreover, the bounce of Asia mkt indicates high probability of retrace in Euro market.

Therefore, it give us two way to think about the GBPUSD trend, first, short pound before Euro market open, or waiting for relative support at 1.3100.

Support: 1.3036 / 1.3100

Resistance: 1.3173
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