GBP/USD Price Analysis: Bears on the sidelines, but lurking at a critical resistance

Market news

23 March 2022

GBP/USD Price Analysis: Bears on the sidelines, but lurking at a critical resistance

GBP/USD bulls are on the path for a firm test of critical resistance.
Bears are waiting patently for a discount to present itself.

GBP/USD continues its advance towards a key area of resistance. The weekly M-formation shows that the price reverting towards the neckline of the pattern near to the 1.3350 mark.

GBP/USD weekly chart

This comes in towards a 61.8% golden ratio and 1.34 the figure. The bears will be moving in for the kill at this point and the price would be expected to continue on its southerly trajectory with 1.28 the figure in focus.

Currencies. Daily history for Wednesday, March 23, 2022

Schedule for tomorrow, Thursday, March 24, 2022

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