16.03.2020 GBPUSD Analysis

16.03.2020 GBPUSD Analysis On the fourth trading day of the week, weak economic data flow continued in the UK, while the US PPI fell more than expected in February with 0.6 percent. On the last trading day of the week, the consumer confidence of the University of Michigan, which was announced in the USA with the weak data flow in England, decreased from 101 to 95.9 in March. While the concerns regarding the virus spreading in the global markets continued to increase during the day, it was observed that the GBP / USD continued its downward movement on the fourth day at the end of the day with the gains observed and the developments followed. Technically, it was observed that GBP / USD continues to be determinant at 1.2280 level. As long as the downtrend in the parity continues, sales that may come as long as they remain below the resistance level of 1.2340, 1.2200, 1.2130 and 1.2060 are important support levels to follow. 1.2340, 1.2400 and 1.2460 resistance levels should be followed in the upward movement of the potential purchases and the upward trend in the parity. [mstock id = "1603"]