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- The GBP/USD is still testing the MA 200 H1 support
The GBP/USD is still testing the MA 200 H1 support
Yesterday, the GBP/USD traded higher and closed the day in the positive territory near 1.3145. Today it traded in a narrow range of 1.3140-55, remaining close to yesterday's closing price. On the hourly chart, GBP/USD is testing the support - the MA (200) H1 moving average line (1.3170). On the four-hour chart, the pair is still above the MA 200 H4 line. Based on the above, it is probably worth sticking to the northern direction in trading and while the pair remains above the MA 200 H1, it may be necessary to look for entry points for buying at the end of the correction.
- Resistance levels are at 1.3175, 1.3200, 1.3225
- Support levels are at 1.3105, 1.3075-85, 1.3035
Probably, the main scenario is a resumption of growth to 1.3175 (Sep 4 high).
The alternative scenario is final consolidation below the MA 200 H1 level with a subsequent decline to 1.3010 (Aug 21 low).
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