12-3-2021 GBPUSD Price Can Go Higher Above $1.39 Level
GBPUSD Price Analysis – March 11
An Increase in the bulls’ pressure will increase the price above the resistance level of $1.39 which will expose the price to $1.40 and $1.41 resistance level. In case the resistance level of $1.39 holds, the price may reverse and face the support level of $1.38, $1.37 and $1.35.
Key levels:
Supply levels: $1.39, $1.40, $1.41
Demand levels: $1.38, $1.37, $1.35
GBPUSD Long-term Trend: Bullish
GBPUSD is bullish on the long-term outlook. The currency pair was bearish last week but the support level at $1.37 could not allow further decrease in price. On March 08, a daily Doji candle formed; it signal the probability of price reversal. The following day, the bulls gained more momentum to propel the pair towards north. The resistance level of $1.39 is being tested at the moment. Further price increase envisaged.
