FX.co - GBP/USD update for March 22, 2022 - Breakout of the key pivot at 1.3210

2022-03-22T11:48:13

Relevance until2022-03-23

Technical analysis:

GBP/USD update for March 22, 2022 - Breakout of the key pivot at 1.3210

GBP/USD has been upside today and I found breakout of the key pivot resistance at 1.3210, which is good sign for further rally.

Trading recommendation:

Due to the breakout of the the inverted head and shoulders pattern and key pivot at the price of 1.3210, I see further upside movement on GBP.

Watch for buying opportunities on the intraday pullbacks with the upside objectives at 1.3270 and 1.3420

Support level is set at the price of 1.3110

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ GBP/USD update for March 22, 2022 - Breakout of the key pivot at 1.3210