Technical Analysis
11.01.2021, 05:22

GBP/USD is testing MA 200 H1 support

On Friday, the GBP/USD traded in different directions in the range of $1.3535-$1.3635 and closed the day without significant changes. Today it dropped slightly, dropping to $1.3495. On the hourly chart, GBP/USD is testing the strength of the support - the moving average MA (200) H1 ($1.3580). On the four-hour chart, it remains above the MA 200 H4 line for now. Based on the above, it is probably worth sticking to the northern direction in trading and until the GBP/USD finally consolidates below MA 200 H1, it may be necessary to look for buy entry points at the end of the correction.

  • Resistances levels are at: $1.3635, $1.3670, $1.3700

  • Support levels are at: $1.3470, $1.3405-30, $1.3305

Probably, the main scenario - is to rise to $1.3635 (Jan 8 high). An alternative scenario - may be final consolidation below the MA 200 H1 level with a subsequent decline to $1.3470 (Dec 29 low).

Quotes
Symbol Bid Ask Time
AUDUSD
EURUSD
GBPUSD
NZDUSD
USDCAD
USDCHF
USDJPY
XAGEUR
XAGUSD
XAUUSD

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