GBPUSD Fibo Retracement? 15.03.2023
GBPUSD has been rising since 09.03.2023 having a rather volatile path.
The pair entered in to a consolidation phase indicating that this medium -term shock has ended.
Retracement is a possibility but we have to wait for the support break of the 1.21400 for confirmation.
Breaking that support would drive the pair further down until 1.20600 at least.
NOTE: 14:30 (GMT+2) Annual Budget Release for the UK might distort our analysis.
Alternative scenario: the market breaks 1.22 resistance level showing signs of more shock boost
and moves until 1.22600 level.
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The pair entered in to a consolidation phase indicating that this medium -term shock has ended.
Retracement is a possibility but we have to wait for the support break of the 1.21400 for confirmation.
Breaking that support would drive the pair further down until 1.20600 at least.
NOTE: 14:30 (GMT+2) Annual Budget Release for the UK might distort our analysis.
Alternative scenario: the market breaks 1.22 resistance level showing signs of more shock boost
and moves until 1.22600 level.
__________________________
Information Regarding Important News and Figures can be found here in our Economic Calendar: mau.bdswiss.com/economic-calenda...
Risk Warning: Trading in CFDs is highly speculative and carries a high level of risk. It is possible to lose all of your invested capital. These products may not be suitable for everyone, and you should ensure that you fully understand the risks taking into consideration your investment objectives, level of experience, personal circumstances as well as personal resources. Speculate only with funds that you can afford to lose. Seek independent advice if necessary. Please refer to our Risk Disclosure.
BDSwiss is a trading name of BDS Markets and BDS Ltd.
BDS Markets is a company incorporated under the laws of the Republic of Mauritius and is authorized and regulated by the Financial Services Commission of Mauritius ( FSC ) under license number C116016172, address: 6th Floor, Tower 1, Nexteracom Building 72201 Ebene.
BDS Ltd is authorized and regulated by the Financial Services Authority Seychelles (FSA) under license number SD047, address: Tenancy 10, Marina House, Eden Island, Mahe. Payment transactions are managed by BDS Markets (Registration number: 143350).
BDSwiss Research Team: Stuart Cowell, Da-Costa Assumang, Adnan Rehman, Aldo Weidner
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