- Analytics
- Market analysis
- Technical Analysis
- GBP/USD drops to monthly low
GBP/USD drops to monthly low
The hourly chart of GBP/USD shows a sharp decline, as a result of which the pair broke through several support levels in a row, including 1.3260 and 1.3210, and is currently trading around 1.3145. This indicates high volatility and increased bearish pressure. The pair dropped to a monthly low, and the price fixed well below the MA (200) H1 moving average, which confirms a steady downward trend. The MACD indicator reinforces the negative signal: the histogram expands in the negative zone, indicating an acceleration of the downward momentum. The absence of signs of a reversal confirms the likelihood of further decline. The overall picture remains bearish, with downside risks prevailing in the short term.
Resistance levels are: 1.3210, 1.3260, 1.3305-20
Support levels are: 1.3125, 1.2985, 1.2865
The main scenario for the pair's advance suggests a breakout of support at 1.3125 (low of the American session on April 14) and a possible decline to 1.2985 (low of the European session on April 11).
The alternative scenario implies a breakout of the resistance at 1.3210 (May 9 low), an increase to 1.3260 (May 1-6 low), and then maybe to 1.3305-20 (May 9 high, MA (200) H1)
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
