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- There is a downward pressure on the hourly chart of GBP/USD
There is a downward pressure on the hourly chart of GBP/USD
On the hourly chart of GBP/USD, downward pressure is observed, which increased after an unsuccessful attempt to consolidate above the resistance level of 1.3360. The pair is trading below the MA (200) H1 moving average, which indicates a prevailing bearish sentiment. The last downward impulse led to a breakdown of short—term support in the area of 1.3285 and an approach to the next support level - 1.3240. The MACD indicator shows an increase in negative dynamics: the histogram goes deeper into the "red" zone, which indicates an increasing downward momentum. As long as the price remains below 1.3360 and the moving average, downside risks remain. In case of a breakdown of 1.3240, a further decline in the direction of 1.3200 is possible. An alternative scenario is a return above 1.3360, which could lead to a test of 1.3405. However, there are no reversal signals yet.
Resistance levels are: 1.3360, 1.3405, 1.3445
Support levels are: 1.3240, 1.3200, 1.3125
The main scenario for the pair's advance suggests a breakout of the session high of 1.3360 and there may be an increase to 1.3405 (May 6 high).
An alternative scenario implies a breakout of the session low of 1.3340 and there may be a decline to 1.3200 (April 17 low)
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