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- GBP / USD is trading near the highs of April 2018
GBP / USD is trading near the highs of April 2018
Today, the GBP/USD pair is trading in the range of $1.4120-75, after rising yesterday to a high of April 19’ 2018 ($1.4240-45). On the hourly chart, GBP / USD remains above the moving average line MA (200) H1 ($1.4000) and on the four - hour chart-above MA (200) H4 ($1.3775). In this situation, it is probably worth sticking to the north direction in trading and looking for exit points to buy. It is worth noting that the 14-day relative strength index (RSI (14) on D1), rose well above the level of 70, which signals a possible change in the direction of price movement.
⦁ Resistance levels are: $1.4240-45, $1.4315, $1.4375
⦁ Support levels are: $1.4055-80, $1.4000, $1.3950
The main scenario for the pair's promotion - growth of $1.4240-45 (April 19’ 2018 and February 24 highs), and then maybe to $1.4315 (April 18’ 2018 high)
An alternative scenario - decline to $1.4055-80 (February 23-14 lows) and then maybe to MA (200) H1 ($1.4000)
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