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- The GBP/USD fell sharply
The GBP/USD fell sharply
On Friday, the GBP/USD traded lower and closed the day in the red around $1.0860. It also fell sharply today, dropping to $1.0360. On the hourly chart, the GBP/USD is still trading below the moving average MA (200) H1 ($1.1360). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the south direction in trading, and while the GBP/USD remains below MA 200 H1, it may be necessary to look for entry points to sell for the formation of a correction.
Resistances levels are at: $1.0845, $1.1095, $1.1210
Support levels are at: $1.0360, $1.0300, $1.0200
Probably, the main scenario is the continued decline to $1.0360 (session low).
The alternative scenario is a final consolidation above the MA 200 H1 level, followed by a rise to $1.1590 (Sep 14 high).
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