GBPUSD Daily Forecast Mar 17 2020


GBPUSD Bearish Eyes Further Weakness…

The GBPUSD remains on the downside as long as 1.2290/1.2400 resistance holds on a daily closing basis. Support comes at 1.2150 level ahead of 1.2000 level. A halt is likely, but a cut would open 1.1890 next, further down, support comes at 1.1755 levels.

On the upside, resistance comes at 1.2290 level ahead of 1.2400 level. Above 1.2400 sees recovery threats to 1.2550/1.2685 levels before another fall.

In conclusion: The GBPUSD continues to face downside threats below 1.2290/1.2400 levels.

Support: 1.2150, 1.2000, 1.1890, 1.1755

Resistance: 1.2290, 1.2400, 1.2550, 1.2685

GBPUSD Daily Forecast Mar 17 2020Key data/events which may affect GBPUSD today:
  • U.K Average Earnings Index +Bonus (Jan) at 09:30 GMT.
  • U.K Claimant Count Change (Feb) at 09:30 GMT.
  • U.S Retail Sales Data (MoM) (Feb) at 12:30 GMT.