FX.co - GBPUSD analsysis for February 27, 2023 - Sellers in control and upside correction in progress

2023-02-27T08:47:45

Relevance until2023-02-28

Technical analysis:

GBPUSD analsysis for February 27, 2023 - Sellers in control and upside correction in progress

GBP/USD has been trading upside this morning and I found that correction is in the progress.

Key resistance zone for the GBP/USD is set at price of 1.2 and 1.2010

Rejection of the key resistance zone may indicate further downside continuation.

Stochastic and MACD oscillators are showing upside reading and that is another confirmation that upside correction is in progress.

In case of the further downside movement without testing the key resistance zone, next downside objective is set at 1.1920

*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 ★ GBPUSD analsysis for February 27, 2023 - Sellers in control and upside correction in progress