Technical Analysis
23.11.2022, 05:29

The GBP/USD remains above MA 200 H1

Yesterday the GBP/USD traded higher and closed the day in the positive territory around $1.1880. Today it was trading in a narrow range of $1.1870-05, staying close to yesterday's closing price. On the hourly chart, the GBP/USD is still trading above the MA (200) H1 moving average line ($1.1830). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the north direction in trading, and as long as the GBP/USD remains above MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.

  • Resistances levels are at: $1.1950-55, $1.2020, $1.2080-95

  • Support levels are at: $1.1825, $1.1765-80, $1.1710

Probably, the main scenario is continued growth towards $1.1950 (Nov 18 high).

The alternative scenario is consolidation below the MA 200 H1 level, followed by a fall to $1.1645 (Nov 11 low).

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

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