Technical analysis

04 October 2021

12:24 GBP/USD remains below MA 200 H1

The GBP/USD was trading higher on Friday and closed the day in positive territory around $1.3545. Today it was trading in a narrow range of $1.3535-75, staying close to Friday's close. On the hourly chart, GBP/USD is still trading below the MA line (200) H1 ($1.3595). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the south direction in trading, and while the GBP/USD remains below MA 200 H1, it may be necessary to look for a sell entry point at the end of the correction.

  • Resistances levels are at: $1.3615, $1.3715, $1.3750-65

  • Support levels are at: $1.3415-35, $1.3305, $1.3190

Probably, the main scenario is the continuation of the decline to $1.3435 (Oct 1 low). An alternative scenario is consolidation above the MA 200 H1 level with a subsequent rise to $1.3910 (Sep 14 high).

04 October 2021, 12:50

USD/CHF remains above MA 200 H1

04 October 2021, 11:58

EUR/USD is trading near July lows

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