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- GBP/USD continues to fall yesterday
GBP/USD continues to fall yesterday
Yesterday the GBP/USD was trading lower and closed the day in the red around $1.3640. It also dropped slightly today, dropping to $1.3605. On the hourly chart, GBP/USD is trading below the moving average MA (200) H1 ($1.3685). On the four-hour chart, it remains above the MA 200 H4 line for now. Based on the foregoing, it is probably worth sticking to the south direction in trading and while the GBP/USD remains below MA 200 H1, it may be necessary to look for entry points to sell on the formation of a correction.
Resistances levels are at: $1.3680, $1.3705, $1.3750-55
Support levels are at: $1.3605, $1.3585, $1.3520
Probably, the main scenario - is a decline to $1.3605 (Feb 4 low). An alternative scenario - may be consolidation above the MA 200 H1 level with a subsequent rise to $1.3755 (Feb 1 high).
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