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- GBP/USD continues to decline on Friday
GBP/USD continues to decline on Friday
The GBP/USD traded lower on Friday and closed the day in the red around $1.3045. It also dropped slightly today, dropping to $1.3020. On the hourly chart, GBP/USD is still trading above the MA line (200) H1 ($1.2995). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the northern direction in trading, and while the GBP/USD remains above MA 200 H1, it may be necessary to look for buy entry points at the end of the correction.
Resistances levels are at: $1.3120, $1.3145, $1.3175
Support levels are at: $1.2970, $1.2900-10, $1.2865
Probably, the main scenario - is continued growth to $1.3120 (Oct 23 high). An alternative scenario - may be consolidation below the MA 200 H1 level with a subsequent decline to $1.2865 (Oct 16 low).
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