GBPUSD PREDICTION - 05.03.2025 - IST 7.15 PM
GBPUSD PREDICTION - 05.03.2025 - IST 7.15 PM
GBPUSD PREDICTION - 05.03.2025 - IST 7.15 PM
GBPUSD PREDICTION - 05.03.2025 - IST 7.15 PM
K Karthik Raja (Market Educator & Technical Analyst)
MCA | MBA | M.Com | MSc Psychology | PGJMC | CST | MDAT | CFA Pursuant
1. Trend Analysis
- The price has shifted from a downtrend to an uptrend.
- Higher highs and higher lows indicate strong bullish momentum.
- Price is trading above key moving averages, confirming bullish strength.
2. Moving Averages Insights
- 200-period MA (green): Recently broken, acting as new support.
- 50-period & 100-period MAs (orange/red): Price is well above these, reinforcing bullish bias.
- The golden cross (shorter MA crossing above longer MA) suggests further upside potential.
3. Volume Analysis
- Increasing volume on the breakout confirms strong buying interest.
- Weak volume during pullbacks suggests lack of selling pressure.
4. Upcoming Events
- Watch for key UK and US economic data (inflation, interest rate decisions).
- Bank of England (BoE) and Federal Reserve policy announcements may impact volatility.
5. RSI Divergence Reason
- RSI is at 70.83, indicating overbought conditions.
- No bearish divergence yet, but a pullback may be expected if RSI remains overbought.
6. Final Takeaway
- Strong bullish trend, but overbought RSI suggests a potential pullback before continuation.
- Bulls should look for buying opportunities on dips.
Breakout Strategy (Bullish)
- Entry: Buy on a retest of 1.2800 with confirmation.
- Stop-loss: Below 1.2750.
- Target 1: 1.2850 (+50 pips).
- Target 2: 1.2900 (+100 pips).
Breakdown Strategy (Bearish)
- Entry: If price drops below 1.2750 with volume confirmation.
- Stop-loss: Above 1.2800.
- Target 1: 1.2700 (-50 pips).
- Target 2: 1.2650 (-100 pips).
Conclusion
- Trend remains bullish, favoring buy-on-dip strategies.
- Caution on overbought RSI; wait for a pullback before entering long trades.
- Monitor upcoming fundamental events that may impact market sentiment.
Disclaimer: This report is for informational purposes only and should not be considered as financial advice. Please consult with a professional before making investment decisions.
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