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- GBP/USD is testing MA (200) H1
GBP/USD is testing MA (200) H1
Today, the GBP/USD pair is trading in the range of $1.3655-1.3710 after yesterday retreating from the high of the end of April 2018 ($1.3760. On the hourly chart, the pair is testing the moving average line MA (200) H1 ($1.3700) and on the four-hour chart, it is trading well above MA (200) H4 ($1.3590). In this situation, it is probably worth sticking to the north direction in trading, and, at the end of the correction, look for exit points to buy.
⦁ Resistance levels are: $1.3700-10, $1.3760, $1.3795
⦁ Support levels are: $1.3655, $1.3610, $1.3570
The main scenario for the pair's promotion - break of the resistance of $1.3700-10 (session high, MA (200) H1) and then, maybe, a rise to $1.3760 (January 27 and February 1 high)
An alternative scenario - break of the support of $1.3655 (January 29 and February 1 low) and may be a decline to $1.3610 (January 26 low)
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