GBPUSD Technical Forecast


A deluge of economic data will move the currency markets on Wednesday. What is going to affect the movements of the GBPUSD pair? Find out in this 14 March GBPUSD Technical Forecast.

14 March, OctaFX – The British pound has performed a bullish technical breakout against the greenback, following the unexpected departure of U.S Secretary of State Rex Tillerson from the Trump administration. The GBPUSD pair is currently sitting around the 1.3970 level, having traded close to the 1.4000 handle during today’s Asian trading session.

Moving into the European trading session, key technical support is now found at the 1.3920 level, whilst the next upside hurdle remains the psychological 1.4000 level.

14 March GBPUSD Technical Forecast

  • The GBPUSD pair is likely to advance further once clearly above the 1.4000 level. Upside targets are then found at the 1.4066 and 1.4149 levels.

  • Should the GBPUSD pair move below the 1.3966 level, we may see a strong price-action back towards the key 1.3920 support level.

Disclaimer

This article about 14 March GBPUSD Technical Forecast was provided by OctaFX. It should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Also, speculative trading is a challenging prospect, even to those with market experience and an understanding of the risks involved.

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