- Analytics
- Market analysis
- Technical Analysis
- GBP/USD shows a corrective movement after a sharp decline
GBP/USD shows a corrective movement after a sharp decline
On the hourly chart, the GBP/USD pair is showing a corrective movement after a sharp decline from the 1.3750 level. The price is trying to stay above the MA (200) H1 moving average, but there is a noticeable struggle for the 1.3650 level, which acts as a short-term support. The recovery after the fall on July 1 met resistance in the area of 1.36848, where the MA (200) also passes, forming a strong supply zone. The MACD indicator shows a weak positive momentum: the histogram is above zero, but without pronounced growth, which indicates uncertainty and possible consolidation near current levels. The overall picture indicates a potential accumulation phase before a possible move, with a breakdown above 1.3685 opening the way to 1.3750, and a breakdown below 1.3585 confirming a further decline.
Resistance levels are: 1.3685, 1.3750, 1.3790
Support levels are: 1.3560-85, 1.3510, 1.3455
The main scenario for the pair's advance suggests a breakout of the session high of 1.3685 and there may be an increase to 1.3750 (July 2 high)
An alternative scenario implies a decline to 1.3560-85 (July 2-3 lows) and then, maybe, to 1.3510 (June 20 high)
© 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
