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- GBP/USD is testing MA (200) H1
GBP/USD is testing MA (200) H1
Today, the GBP/USD hourly chart shows a corrective movement after a steady uptrend. The price is currently consolidating near the 1.3335 level and testing the strength of the MA (200) H1 moving average line, which indicates a possible weakening of the bullish momentum. The MACD indicator shows a slight positive trend, the histogram has begun to reduce negative values, which may indicate the onset of corrective growth. However, the price is still in a phase of uncertainty, and a breakdown of one of the key levels is required to confirm the further direction of movement. A return above the moving average will be the first signal in favor of restoring the upward movement.
Resistance levels are: 1.3335, 1.3445, 1.3530
Support levels are: 1.3275, 1.3200, 1.3120
The main scenario for the pair's advance assumes a breakout of MA (200) H1 (1.3335) and there may be an increase to 1.3445 (April 28-29 high).
An alternative scenario implies a breakout of 1.3275 (April 25 low) and there may be a decline to 1.3200 (April 3 high, April 17 low).
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