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- GBP / USD is trading near the April 2018 highs
GBP / USD is trading near the April 2018 highs
Today, the GBP/USD pair is trading in the range of $1.3980-1.4050-near the highs of the end of April 2018. On the hourly chart, GBP / USD remains above the moving average line MA (200) H1 ($1.3895) and on the four - hour chart-above MA (200) H4 ($1.3720). In this situation, it is probably worth sticking to the north direction in trading and looking for exit points to buy. It is worth noting that the 14-day relative strength index (RSI (14) on D1), rose well above the level of 70, which signals a possible change in the direction of price movement.
⦁ Resistance levels are: $1.4050, $1.4090, $1.4250
⦁ Support levels are: $1.3950-80, $1.3895, $1.3830
The main scenario for the pair's promotion - break of the session high of $1.4050 and probably a continuation of the upward movement to $1.4090 (April 20’ 2018 high)
An alternative scenario - correction and decline to $1.3950-80 (February 16 high, February 19 low, session low)
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