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The GBP / USD pair, in 4-hour charts, has found strong resistance in the area of the psychological level of 1.40, from there we have seen a fall to the area of the SMA of 21.

At this time of writing, it is trading below the 21 SMA located at 1.3916, an area that coincides with the 5/8 line of Murray, it is likely that the downward pressure will take it to the zone of 1.3850 area, where the EMA of 200 is located.

At the level of 1.3850 it is key to keep the GBP / USD pair with bullish expectation, a break below this level of the EMA of 200, a fall could occur to the 1.3671 area of the 4/8 murray level.

Our recommendation is to buy if it bounces above 1.3850, with targets at 1.3916 and 1.4000.

On the contrary, a consolidation below 1.3815 will be a sign of a bearish move to the area of 1.3750 and 1.3671 in the short term.

Support And Resistance Levels For March 12 – 15, 2021

Resistance (1) 1.3936

Resistance (2) 1.3968

Resistance (3) 1.4013

Support (1) 1.3859

Support (2) 1.3730

Support (3) 1.3634

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Trading tip for GBP/USD for March 12 – 15, 2021

Buy if rebound around 1.3850 (EMA 200) with take profit at 1.3916 (5/8), stop loss below 1.3815.

Sell if breaks 1.3815 (EMA 200) with take profit at 1.3765 and 1.3670 (4/8), stop loss above 1.3855.

The material has been provided by InstaForex Company – www.instaforex.com

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