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- GBP/USD is trading with a decline and is testing the strength of MA (200) H1
GBP/USD is trading with a decline and is testing the strength of MA (200) H1
Today, the GBP/USD pair is trading with a decrease from $1.3855 to $1.3785 and is testing the strength of the MA (200) H1 moving average line ($1.3785) on the hourly chart. On the four-hour chart, the pair is testing MA (200) H4 ($1.3810). GBP/USD broke through the support of $1.3815, which became the nearest resistance. Technically speaking, a strong support level of $1.3765 can keep the pair from further decline. If it breaks through, prices may fall to $1.3730. The upper limit of $1.3855 represents the resistance level. The most likely range of the pair's movement for today may be hidden within the range of $1.3765-$1.3855.
⦁ Resistance levels are: $1.3815, $1.3855, $1.3890
⦁ Support levels are: $1.3765, $1.3730, $1.3680
The main scenario for the pair's promotion — correction and there may be an increase to the session maximum of $1.3855
An alternative scenario — if the support of $1.3765 (September 2 low) is broken, the pair may fall to $1.3730 (August 30 and September 1 low)
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