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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 from the level of 1.3425, but the upward momentum slows down near the resistance of 1.3350. At the moment, the price is trading around 1.3310 and testing the MA (200) H1 moving average, which indicates an attempt by the bulls to regain control, but signs of uncertainty still persist. Resistance at 1.3350 is the nearest obstacle to further growth, while support is located at 1.3245 and 1.3200. The MACD indicator shows weak bullish dynamics, but the histogram has already begun to decline, indicating a slowdown in the upward movement and possible consolidation. The lack of a confident signal from the MACD confirms the uncertainty of the short-term direction. The overall technical background remains moderately neutral with an upward bias.
Resistance levels are: 1.3350, 1.3425, 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 1.3350 (April 24 high) and there may be an increase to 1.3425 (April 21-22 and Sept 26 high).
An alternative scenario implies a breakout of the support of 1.3245 (April 23 low) and a possible decline of 1.3200 (April 3 high, April 17 low).
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