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- GBP/USD is testing the strength of MA (200) H1
GBP/USD is testing the strength of MA (200) H1
On the hourly chart, the GBP/USD pair is trading around 1.3500, where the MA (200) H1 moving average runs, after a moderate decline from the local maximum of 1.3560. This zone acts as an important boundary for the short-term trend: its retention may contribute to the resumption of growth, while a breakdown down will increase corrective pressure with the potential to decrease to the levels of 1.3450 and 1.3415. The MACD indicator shows a weakening of the bullish momentum - the histogram is decreasing and moving towards the zero line, which signals a possible transition to sideways dynamics or further decline. In general, the technical picture remains neutral with a bias towards an uptrend, provided it remains above 1.3500, however, the current phase requires confirmation of the further direction.
Resistance levels are: 1.3560, 1.3595, 1.3700
Support levels are: 1.3500, 1.3450, 1.3415
The main scenario for the pair's advance suggests a breakout of the session high of 1.3560 (June 2 high) and there may be an increase to 1.3595 (May 26 high).
An alternative scenario implies a breakout of MA (200) H1 (1.3500) and there may be a decline to 1.3450 (May 30 low)
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