GBP/USD overview Analysis 2018/03/15

GBP/USD found a support after the decline from the level of 1.40 to the middle of 1.39. In the near future, the market is more likely to be stoped near support.
Traders look forward to the second-tier US data – regional manufacturing indices and weekly initial jobless claims data, in order to grab some short-term opportunities.

The bullish trend of movement to 1.40 is preserved, which is 23.6% of Fibonacci retracement from the beginning of the bullish movement from 1.3036. In the more prospective, there is a tendency of the market to test the level of 1.368-1.370, which is the level of 50%.
Regarding the dollar tomorrow, one can expect movement on such news: U.S. JOLTs Job Openings; U.S. Building Permits;
Regarding the euro, we can expect a move on the following tomorrow: Eurozone Consumer Price Index (CPI) YoY

Fibo GBP 2018.03.15

 

Created by Joshua Hayn

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