Technical analysis

04 October 2021

19:32 GBP/USD tests the resistance of MA (200) H1 for strength

Today, the GBP/USD pair is trading mainly with an increase in the range from $1.3535-90 and is testing the strength of the MA (200) H1 moving average line ($1.3590). If the pair breaks through this level, it can rise to $1.3715. On the four-hour chart, the pair remains below MA (200) H4 ($1.3720). The lower bound of $1.3520 represents the support level. The most likely range of oil price movements for today may be hidden within the range of $1.3520-90.


Resistance levels are: $1.3590, $1.3715, $1.3750

Support levels are: $1.3520, $1.3410, $1.3305


The main scenario for the pair's promotion — correction, support breakout of $1.3520 (September 28 low) and there may be a decline to $1.3410 (September 29-30 low)

An alternative scenario — if the level of MA (200) H1 ($1.3590) is broken, the pair may rise to $1.3715 (September 28 high)


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