empty
27.03.2024 12:42 PM
Weekly forecast based on simplified wave analysis of GBP/USD, AUD/USD, USD/CHF, EUR/JPY, EUR/GBP, and US dollar index from March 27th

GBP/USD

Analysis:

The analysis of the daily chart scale of the British currency demonstrates the incompleteness of the ascending wave model since October 4 of last year. Since December, the wave structure has been developing in the middle part (B). On March 8, its final part (C) started downwards. Throughout the past week, quotes formed a horizontal retracement, which was incomplete at the time of analysis.

Forecast:

A flat movement bias with an ascending vector is expected for the British pound in the coming days. Around the calculated resistance zone, a halt and conditions for a reversal can be anticipated. The resumption of the price decline is more likely to occur closer to the weekend.

This image is no longer relevant

Potential reversal zones:

Resistance:

  • 1.2660/1.2710

Support:

  • 1.2450/1.2400

Recommendations:

Buying: has no potential and may lead to losses.

Selling: after confirmation of reversal signals around the resistance zone, they may become the main direction for trading.

AUD/USD

Analysis:

The descending wave of the Australian dollar major, which started in July last year, continues its formation. The final part (C) is developing in the wave structure. Within it, the price forms an upward intermediate retracement in the form of an elongated flat, which is still incomplete.

Forecast:

A general sideways movement can be expected in the next couple of days. The probability of a price increase is high. Closer to the weekend, an increase in volatility can be expected. A change in course and the resumption of price decline can be expected.

This image is no longer relevant

Potential reversal zones:

Resistance:

  • 0.6580/0.6620

Support:

  • 0.6440/0.6390

Recommendations:

Buying: possible with reduced volume size within individual sessions until the first reversal signals appear.

Selling: after corresponding signals appear around the calculated resistance zone, they may become the main direction for trading deals.

USD/CHF

Analysis:

The analysis of the structure of the current ascending wave of the Swiss franc chart since December of last year shows the incompleteness of its final part (C). The price is at the upper boundary of a strong support zone. Before continuing the rise, the price needs confirmation in the form of a formed downward retracement.

Forecast:

A flat movement bias with a descending vector is expected in the coming days. A decrease is likely due to the boundaries of the calculated support. Closer to the weekend, the probability of increased volatility, change in course, and resumption of price rises increases. The upper boundary of the expected weekly movement is the calculated resistance.

This image is no longer relevant

Potential reversal zones:

Resistance:

  • 0.9250/0.9300

Support:

  • 0.9000/0.8950

Recommendations:

Selling: possible with reduced volume size within individual trading sessions.

Buying: may become profitable for trading after reversal signals appear around the support zone of your trading systems.

EUR/JPY

Analysis:

The unfinished bullish trend segment of the euro/Japanese yen pair has been counting since December of last year. A week ago, quotes in a sideways flat started forming a counter-correction. The structure of this wave segment needs to indicate completeness. The price is within a powerful potential reversal zone of the daily timeframe.

Forecast:

The pair's price will oscillate in the next week between zones of counter direction. An ascending vector is more likely at the beginning. Towards the end of the week, the probability of a change in direction and the pair's course downwards increases.

This image is no longer relevant

Potential reversal zones:

Resistance:

  • 164.90/165.40

Support:

  • 162.50/163.00

Recommendations:

Buying: may be used with fractional volumes within individual sessions.

Selling: becomes possible after confirmed reversal signals appear around the support zone.

EUR/GBP

Analysis:

The dominant direction of the price trend of the euro/pound pair since February of last year sets the algorithm of a descending wave. The wave develops in the form of a horizontal flat. Since June, quotes have been drifting sideways, forming the middle part of the wave (B). The price is at the lower boundary of the corridor formed over the past months.

Forecast:

In the next few days, reversal signals around the support zone can be expected to form. A course change is more likely closer to the end of the week. A breakthrough of the lower boundary during a reversal is unlikely.

This image is no longer relevant

Potential reversal zones:

Resistance:

  • 0.8680/0.8730

Support:

  • 0.8530/0.8480

Recommendations:

Selling: has low potential and may result in loss of deposit.

Buying: may become prospective after confirmed reversal signals appear around the support zone.

US dollar index

Analysis:

The quotes of the North American dollar index have been forming an ascending wave model since December of last year. The final part of the wave (C) started on March 11. From last week, quotes form a corrective retracement, after which the rise in the dollar exchange rate will continue.

Forecast:

In the next couple of days, a short-term decrease in the exchange rate can be expected up to the support zone. Closer to the weekend, a resumption of the upward movement of the index is expected. The resistance zone demonstrates the upper boundary of the expected weekly movement of the instrument.

This image is no longer relevant

Potential reversal zones:

Resistance:

  • 104.70/104.90

Support:

  • 103.70/103.50

Recommendations:

The decrease in the US dollar exchange rate will be short-term. Trading deals on weakening national currencies in major pairs may become profitable when reversal signals form around the calculated support.

Notes: In simplified wave analysis (SWA), all waves consist of 3 parts (A-B-C). The last unfinished wave is analyzed on each timeframe. Dotted lines indicate expected movements.

Isabel Clark,
Analytical expert of InstaForex
© 2007-2025
GBPUSD
Great Britain Pound vs US Dollar
Summary
Neutral
Urgency
1 week
Analytic
Vyacheslav Ognev
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

GBP/USD Analysis – March 18th

The wave structure for GBP/USD remains somewhat ambiguous yet generally clear. At present, there is a high probability that a long-term downward trend is forming. Wave 5 has taken

Chin Zhao 18:45 2025-03-18 UTC+2

EUR/USD Analysis – March 18th

The wave structure on the four-hour chart is at risk of transforming into a more complex formation. A new downward wave structure began forming on September 25, taking the shape

Chin Zhao 18:43 2025-03-18 UTC+2

EUR/USD Analysis – March 17th

The 4-hour wave analysis for EUR/USD is at risk of transforming into a more complex structure. A new downward trend began on September 25, taking the form of a five-wave

Chin Zhao 17:34 2025-03-17 UTC+2

Weekly Forecast Based on Simplified Wave Analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, #Ethereum, and #Litecoin – March 17th

GBP/USD Since January, an upward wave has been forming on the GBP/USD chart. The wave structure analysis shows that this wave remains incomplete. After breaking through another resistance level

Isabel Clark 09:34 2025-03-17 UTC+2

Weekly Forecast Based on Simplified Wave Analysis for EUR/USD, USD/JPY, GBP/JPY, USD/CAD, #Bitcoin, and #Ripple – March 17th

Since February 3 of this year, the chart of the euro has been forming an upward wave zigzag. The wave structure analysis indicates that a correction is forming

Isabel Clark 09:23 2025-03-17 UTC+2

Weekly Forecast BasSimplified Wave Analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, Ethereum, and Litecoin on March 10th

Analysis:The upward wave that started on January 13th remains incomplete, forming a new segment of the dominant global uptrend. The pair is currently trading within a narrow range between opposing

Isabel Clark 09:26 2025-03-10 UTC+2

Weekly Forecast Based on Simplified Wave Analysis for EUR/USD, USD/JPY, GBP/JPY, USD/CAD, GOLD, and Bitcoin on March 10th

Analysis:Since early February, the euro has been forming an upward zigzag wave, marking the beginning of a new bullish trend. The pair has reached a significant potential reversal zone

Isabel Clark 09:20 2025-03-10 UTC+2

GBP/USD Analysis – March 5th: The Pound Benefits from Trump

The wave structure for GBP/USD remains somewhat ambiguous but still largely understandable. Currently, the likelihood of forming a long-term downward trend remains high. Wave 5 has taken a convincing shape

Chin Zhao 19:25 2025-03-05 UTC+2

EUR/USD Analysis – March 5th

The wave pattern on the 4-hour EUR/USD chart appears clear and structured. A new downward cycle began on September 25, forming a five-wave impulse structure. Two months ago, a corrective

Chin Zhao 19:23 2025-03-05 UTC+2

GBP/USD Analysis – March 4th

The wave structure of the GBP/USD instrument remains somewhat ambiguous but still comprehensible. At present, there is a high probability of forming a long-term bearish trend segment. Wave

Chin Zhao 18:35 2025-03-04 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.