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- The GBP/USD slightly rose
The GBP/USD slightly rose
Yesterday, GBP/USD traded downwards and closed the day in the red zone near the price of 1.3190. Today, it slightly rose, rising to 1.3210. On the hourly chart, GBP/USD is still trading above the moving average line MA (200) H1 (1.3110). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the northern direction in trading and while the pair remains above MA 200 H1, it may be necessary to look for entry points for buying at the end of the correction.
- Resistance levels are at: 1.3240, 1.3265, 1.3295
- Support levels are at: 1.3170, 1.3110, 1.3075
Probably, the main scenario is continued growth to 1.3240 (the high of the European session on Aug 28).
The alternative scenario is final consolidation below the MA 200 H1 level, followed by a decline to 1.2975 (Aug 20 low).
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