Yesterday the GBP/USD traded in different directions in the range of $1.3700-$1.3750 and closed the day without significant changes. Today it also traded in a tight range of $1.3705-30, staying close to the 11-week high. On the hourly chart, the GBP/USD is still trading above the MA (200) H1 moving average line ($1.3585). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the north direction in trading, and while the GBP/USD remains above MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.
Resistances levels are at: $1.3750, $1.3800, $1.3830
Support levels are at: $1.3620, $1.3560, $1.3525-30
Probably, the main scenario is continued growth towards $1.3750 (Jan 13 high). Alternative scenario is fixing below MA 200 H1 level, followed by decline to $1.3430 (Jan 3 low).
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