GBPUSD Analysis of 14.03.2022

The fate of this couple does not seem so obvious, interesting

Can GBP / USD Bounce Before BOE Meeting?

Unlike the US dollar which is still stuck in the market, although sentiment from the Russia-Ukraine crisis has eased slightly, the pound continues to come under pressure from the depreciation of its closing value at the end of last week.

However, the upturn in the outlook for the pound picked up again this week with the decision by the central bank of England to show rate hikes are in effect. The current price movement of the GBP / USD pair still shows a bearish trend.

Over the past week, price increases stalled in the 1,32000 resistance zone before prices retraced above the 1,31000 support level to record a new 16-month low around 1,30300.

The price decline that continues this week will break the last support at 1,3000 with the next target for a decline at 1,29000. On the other hand, if the price increase holds up, the initial hurdle to test is at 1,31000 before the price returns to last week's 1,32000 resistance zone.


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