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- GBP/USD is testing MA (200) H1
GBP/USD is testing MA (200) H1
Today, the hourly chart of GBP/USD shows a recovery after a decline that started at the resistance level of 1.3425 and reached a low near 1.3200. After that, the price pushed up, forming a local bottom at the support level of 1.3245. At the moment, the pair is trading near the 1.3310 mark, slightly above the MA (200) H1 moving average, which may indicate a recovery in the upward momentum.
The MACD indicator shows the histogram moving into a positive zone, which may indicate a change in the short-term trend to an upward one. At the same time, the signal line begins to rise, confirming the bullish mood of the market.
Overall, the current recovery looks stable, but to continue growth, it is necessary to consolidate above the 1.3340 level while maintaining positive MACD dynamics.
Resistance levels are: 1.3340, 1.3430, 1.3530
Support levels are: 1.3245, 1.3200, 1.3115
The main scenario for the pair's advance suggests a breakout of the resistance at 1.3340 (April 23 high) and there may be an increase to 1.3430 (April 21-22 and Sept 26 high).
An alternative scenario implies a breakout of the support 1.3245 (April 23 low) and a possible decline of 1.3200 (April 3 high, April 17 low).
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