12-3-2021 GBPUSD Price Can Go Higher Above $1.39 Level

The GBP/USD price analysis for March 11 suggests the following:

- An increase in bullish pressure could drive the price above the $1.39 resistance level, potentially exposing it to further resistance levels at $1.40 and $1.41.

- However, if the $1.39 resistance level holds, there may be a reversal, and the price could find support at levels such as $1.38, $1.37, and $1.35.

Key Levels:

Supply Levels: $1.39, $1.40, $1.41

Demand Levels: $1.38, $1.37, $1.35

The long-term trend for GBP/USD is described as bullish. Last week, the pair experienced bearish movement but found support at the $1.37 level, preventing further price decline. A daily Doji candle on March 8 signaled the potential for a price reversal. Subsequently, the bulls gained momentum, pushing the pair higher and testing the $1.39 resistance level.

Please note that forex markets are subject to various factors, and price movements can change rapidly. It's crucial to conduct your analysis and consider risk management strategies when trading.