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- GBP/USD continues to test support for MA 200 H1
GBP/USD continues to test support for MA 200 H1
Yesterday the GBP/USD traded in different directions in the range of $1.4110-$1.4190 and closed the day without significant changes. Today it dropped slightly, dropping to $1.4160. On the hourly chart, GBP/USD is testing the strength of the support - the moving average MA (200) H1 ($1.4165). 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 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: $1.4200, $1.4245, $1.4300
Support levels are at: $1.4110, $1.4085, $1.4005-15
Probably, the main scenario is continued growth to $1.4200 (Jun 4 high). An alternative scenario is final consolidation below the MA 200 H1 level with a subsequent decline to $1.4010 (Jun 7 low).
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