FX.co ★ Technical analysis of GBP/USD for March 22, 2022

The market of the GBP/USD pair will continue to be very strongly in general, especially as we have known so many different fundamental reasons to think that the volatility is going to get worse since last month.

The GBP/USD pair continues to move upwards from the level of 1.3250. Today, the first support level is currently seen at 1.3151, the price is moving in a bullish channel now.

The price has been set above the strong support at the level of 1.3151, which coincides with the 23.6% Fibonacci retracement level.

This support has been rejected several times confirming the veracity of an uptrend this week.

Equally important, the RSI is still calling for a strong bulish market and the current price is above the moving average 100.

The main range is 1.3000 to 1.3394. The trend is currently trading inside its retracement zone at 1.3151 to 1.3394.

According to the previous events the price is expected to remain between 1.3151 and 1.3350 levels.

Buy-deals are recommended above 1.3260 with the first target seen at 1.3319. The movement is likely to resume to the point 1.3350 and further to the point 1.3394.

On the other hand, if a breakout happens at the support level of 1.3151, then this scenario may be invalidated.