03.03.202215:03 Forex Analysis & Reviews: Analysis of Gold for March 03,.2022 - Key resistance at the price of $1.935 on the test

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Technical analysis:

GBP/USD has been trading sideways at the price of $1,930. Watch carefully for price action around pivot at the price of $1,935 to confirm further direction.

Trading recommendation:

Rejection of the pivot at the price of $1,935 can lead price lower towards the $1,914. In case of rejection, downside opportunities are preferable.

Breakout of the key resistance at the price of $1,935 can confirm further upside movement and potential test of $1,944 and $1,950. Buying opportunities on the dips will be preferable strategy under breakout condition.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.