FX.co ★ Technical analysis of GBP/USD for March 30, 2022

The GBP/USD pair faces resistance at 1.3174, while strong resistance is seen at 1.3203. Support is found at 1.3109 and 1.3050 levels . Today, the GBP/USD pair continues to move downwards from 1.3174 level. The pair fell from 1.3174 level to the bottom around 1.3109. In consequence, the GBP/USD pair broke support at 1.3174 which turned into resistance The 1.3174 level is expected to act as minor resistance. Hence, we expect the GBP/USD pair to continue moving in the bearish trend from 1.3174 level towards the target at 1.3109. In the long term, if the pair succeeds in passing through 1.3174 level , the market will indicate the bearish opportunity below 1.3109 level in order to reach the second target at 1.3050 in the 30M time frame. However, the 1.0740 mark remains a significant support zone. Thus, the trend will probably rebound again from 1.3050 level as long as this level is not breached.