GBPUSD Daily Forecast Mar 12 2020

Pound dollar 9868556 9

GBPUSD: Bearish Eyes The 1.2690 Level…

The GBPUSD maintained a bearish momentum yesterday. Topped at the 1.2975 level and bottomed at the 1.2801 level. This development leaves the pair targeting the 1.2690 levels. A halt is likely, it may test 1.2801 before attempts to break lower. Anyway; below 1.2690 aims the 1.2555 levels, further down, support comes at the 1.2400 levels.

On the upside, resistance comes at 1.2975 levels. Above 1.2975 sees recovery threats to 1.3115/1.3210 levels before another fall…

In conclusion: The GBPUSD sees downside threats below 1.2975 levels…

Support: 1.2801, 1.2690, 1.2555, 1.2400

Resistance: 1.2975, 1.3115, 1.3210, 1.3275

GBPUSD Daily Forecast Mar 12 2020Key data/events which affect GBPUSD today:
  • U.S PPI (MoM) (Feb) at 12:30 GMT.

MARKET DATA

UPCOMING ECONOMIC EVENTS