Analiza techniczna

Today, the GBP/USD pair is trading mainly with a decline in the range of $1.4070-1.4120, after a sharp decline on Friday from $1.4185 to $1.4095. On the hourly chart, the pair is trading below the moving average line MA (200) H1 ($1.4140) and on the four-hour chart, it is testing the NS strength of MA (200) H4 ($1.40885). Technically speaking, the $1.4070 support is keeping prices from falling further for now. If it breaks through, prices may fall to a monthly low of $1.4035. The upper limit of MA (200) H1 ($1.4140) represents the resistance level. The most likely range of the pair's movement for today may be hidden within the range of $1.4070-1.4140.

⦁ Resistance levels are: $1.4140, $1.4185-1.4200, $1.4250

⦁ Support levels are: $1.4070, $1.4035, $1.4005

The main scenario for the pair's promotion - breakout of the session low of $1.4070 (May 17 low) and may be a decline to $1.4035 (May 14 low)

An alternative scenario - correction and may be an increase to MA (200) H1 ($1.4140)

The GBP/USD traded lower on Friday and closed the day in the red around $1.4110. Today it was trading in a narrow range of $1.4100-15, staying close to yesterday's closing price. On the hourly chart, GBP/USD is testing its support - the MA line (200) H1 ($1.4145). On the four-hour chart, it remains above the MA 200 H4 line for now. Based on the above, it is probably worth sticking to the northern direction in trading and while the GBP/USD remains above MA 200 H1, it may be necessary to look for buy entry points at the end of the correction.

• Resistances levels are at: $1.4160, $1.4185-00, $1.4245

• Support levels are at: $1.4075-85, $1.4005-15, $1.3970

Probably, the main scenario is continued growth to $1.4160 (high of the European session on Jun 11). An alternative scenario is final consolidation below the MA 200 H1 level with a subsequent decline to $1.4075 (Jun 10 low).