Technical Analysis
15.10.2021, 04:29

GBP/USD continues to test resistance MA 200 H1

Yesterday the GBP/USD was trading higher and closed the day in positive territory around the $1.3670. Today it was trading in a narrow range of $1.3670-85, staying close to yesterday's closing price. On the hourly chart, GBP/USD continues to test the resistance - the MA (200) H1 ($1.3620) moving average line. On the four-hour chart, it remains below the MA 200 H4 line for now. Based on the foregoing, it is probably worth adhering to the south direction in trading and until the pair finally consolidates above MA 200 H1, it may be necessary to look for a sell entry point at the end of the correction.

  • Resistances levels are at: $1.3730, $1.3750-65, $1.3810

  • Support levels are at: $1.3630, $1.3590, $1.3530-45

Probably, the main scenario is the continuation of the decline to $1.3630 (low of the American session on Oct 13). An alternative scenario is consolidation above the MA 200 H1 level with a subsequent rise to $1.3810 (Sep 17 high).

Quotes
Symbol Bid Ask Time
AUDUSD
EURUSD
GBPUSD
NZDUSD
USDCAD
USDCHF
USDJPY
XAGEUR
XAGUSD
XAUUSD

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