Technical Analysis
01.09.2022, 11:41

GBP/USD is trading near the lows of March 2020

Today, the GBP/USD pair is trading mainly with a decline in the range of $1.1550-1.1620, having reached a new minimum value since March 2020. On the hourly chart, the pair remains below the moving average line MA (200) H1 ($1,1740) and on the four-hour chart it dropped below MA (200) H4 ($1,1990). Technically speaking, the support of $1.1450 can keep prices from further decline. The upper limit of $1.1740-60 represents the resistance level.


⦁ Resistance levels are: $1.1695, $1.1740-60, $1.1900

⦁ Support levels are: $1.1450, $1.1410, $1.1300


The main scenario implies a breakout of the support of $1.1450 (March 23’2020 low), followed by a likely decline to $1.1410 (March 20’2020 low)

The alternative scenario assumes a breakout of the resistance of $1.1695 (August 31 high) followed by a likely increase to $1.1740-60 (August 30 high, MA (200) H1)

Quotes
Symbol Bid Ask Time
AUDUSD 0.61591 0.61596 20:30:38
EURUSD 1.02157 1.02164 20:30:38
GBPUSD 1.21763 1.21768 20:30:38
NZDUSD 0.55587 0.55592 20:30:38
USDCAD 1.44143 1.44148 20:30:38
USDCHF 0.91848 0.91855 20:30:39
USDJPY 157.507 157.512 20:30:40
XAGEUR 29.013 29.047 20:30:39
XAGUSD 29.649 29.666 20:30:39
XAUUSD 2660.69 2660.88 20:30:40

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