GBPUSD 17th March 2025 Daily Analysis: Strategic Trade Opportunities

Daily Current Market Price (DCMP): 1.29336

📊 Critical Price Zones

Above DCMP (Resistance):

🔴 Resistance 1: 1.29547

🎯 Resistance 2: 1.30403

🚨 Resistance 3: 1.31788

Below DCMP (Support):

🟢 Support 1: 1.28162

🎯 Support 2: 1.26777

🚨 Support 3: 1.24536

Swing Levels:

🚩 Swing High: 1.28614 (Daily/4H)

🚩 Swing Low: 1.25502 (Daily/4H)

📉 Technical Landscape

Price Action Context:

GBPUSD consolidates near 1.29336, trapped between immediate resistance at 1.29547 and weekly support at 1.28162.

Fib Retracement: The 61.8% retracement level at 1.28162 (Swing Low to Swing High) aligns with weekly support, while the 38.2% extension at 1.29547 marks resistance.

Momentum Signals:

RSI: Neutral at 49, with bearish divergence on recent rallies.

MACD: Flatlined near the zero line, reflecting indecision.

💡 Intraday Trade Setups

Trade Idea 1: Intraday Buy

📍 Entry: 1.28162 (Weekly Support & Fib 61.8% confluence)

🛑 Stop Loss: 1.26777 (Below Support 2)

🎯 Take Profit 1: 1.29336 (DCMP)

🚀 Take Profit 2: 1.29547 (Resistance 1)

Rationale: Strong demand zone at 1.28162 with bullish reversal patterns on 4H charts.

Trade Idea 2: Intraday Sell

📍 Entry: 1.29547 (Weekly Resistance & Fib 38.2% zone)

🛑 Stop Loss: 1.30403 (Above Resistance 2)

🎯 Take Profit 1: 1.28162 (Support 1)

🚀 Take Profit 2: 1.26777 (Support 2)

Rationale: Overbought signals near 1.29547 amid bearish RSI divergence.

🔑 Strategic Outlook

GBPUSD faces a decisive battle between 1.28162–1.29547. A sustained break above 1.29547 could target 1.30403, while failure to hold 1.28162 opens downside toward 1.26777. Monitor 4H closes for directional confirmation.