FX.co ★ Trading Signal for GBP/USD for March 29 - 30, 2021: Bullish Pennant

The GBP / USD pair in 4 hours charts is trading above the SMA of 21 and above the 1/8 of a murray, showing a bullish signal, we can also see that it has in front of the resistance of 1.3916 and the EMA of 200.

The GBP / USD pair, in 4-hour charts, has left a bullish pennant pattern, targeting the 1.316 level, is now trading with a bullish outlook.

A correction and bounce in the 1/8 murray area around 1.3790 would be a good opportunity to buy, since there is the 21 SMA that acts as a dynamic support.

The market sentiment report for Monday shows that there is 52.66% of operators who are buying the pair, this is a sign that there could be a correction below 1.3916, being a good selling point in this resistance.

The eagle indicator is showing a bullish signal, so any retracement would be a good opportunity to buy.

Support And Resistance Levels For March 29 - 30, 2021

Resistance (1) 1.3858

Resistance (2) 1.3907

Resistance (3) 1.3985

Support (1) 1.3778

Support (2) 1.3743

Support (3) 1.3696

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Trading tip for GBP/USD for March 29 - 30, 2021

Buy if rebound 1.3785 (Strong Support and SMA 21), with take profit at 1.3850 and 1.3916, stop loss below 1.3745.

Sell if pullback at 1.3905 (EMA 200 and 2/8), with take profit at 1.3845, and 1.3793 (1/8) stop loss above 1.3940.