GBPUSD Inflation Reports Looming Will 1.2900 Crack?
GBPUSD Inflation Reports Looming Will 1.2900 Crack?
GBPUSD Inflation Reports Looming Will 1.2900 Crack?
EURUSD - BIG PICTURE REPORT - 19.03.2025 IST 6.00 Pm
K Karthik Raja (Market Educator & Technical Analyst)
MCA | MBA | M.Com | MSc Psychology | PGJMC | CST | MDAT | CFA Pursuant Upcoming Events
- Key economic releases and central bank announcements could impact price action.
- Market reaction to interest rate decisions, inflation reports, and geopolitical developments.
Chart Pattern
- The price is moving within an ascending channel with multiple pullbacks.
- Support levels are holding around the green 200-period moving average.
- Consolidation near key resistance, suggesting possible breakout or retracement.
Trend Confirmation Indicators
- RSI (14) at 46.44 – Neutral zone, indicating neither overbought nor oversold conditions.
- Momentum (14) at 99.94 – Slight decline, suggesting weakening bullish momentum.
- Moving averages – Price still above the 200-period MA, indicating an overall uptrend.
Volume Analysis
- Volume spikes indicate active market participation.
- Lower volume during pullbacks suggests weak selling pressure.
- Increased volume at breakout levels may confirm trend continuation.
Final Takeaway
- Bullish case: If price breaks above resistance with strong volume, it could signal further upside.
- Bearish case: A breakdown below key moving averages with high volume could indicate trend reversal.
Breakout Strategy (Bullish)
- Entry Above 1.3000 | Stoploss 1.2950.
- Target 1.3100 | 1.3200.
Breakdown Strategy (Bearish)
- Entry Below 1.2900 | Stoploss 1.2950.
- Target 1.2800 | 1.2700.
Disclaimer
This analysis is for educational and informational purposes only. It does not constitute financial advice. Always consult a professional before making investment decisions.
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