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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 previously demonstrated an upward movement, reaching a maximum around 1.3750, after which it entered a downward phase and broke through the moving average MA (200) H1, which now acts as resistance and passes near the 1.3675 mark. The current recovery after the fall is encountering resistance in the same zone. Support was formed at 1.3560, where there was an earlier upward rebound. The MACD indicator shows a recovery after a deep negative value: the histogram has moved into a positive zone, which indicates an attempt to reverse upward. However, the lack of a confident breakdown above the moving average and the 1.3675 level keeps the risks of a repeat decline. The overall picture points to a corrective recovery within the downward momentum, and the further direction of movement will depend on the pair's ability to overcome resistance at 1.3675.
Resistance levels are: 1.3675, 1.3750, 1.3790
Support levels are: 1.3560, 1.3510, 1.3455
The main scenario for the pair's advance suggests a breakout of the session high of 1.3675 (June 30 low) and there may be an increase to 1.3750 (July 2 high)
An alternative scenario implies a decline to 1.3560 (July 2 low) and then, maybe, to 1.3510 (June 20 high)
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