Technical analysis

14 October 2021

19:28 GBP/USD rose to a three-week high

Today, the GBP/USD pair is trading mainly with an increase from $1.3660 to $1.3735, reaching an almost three-week high. On the hourly chart, the pair is fixed above the moving average line MA (200) H1 ($1.3610) and on the four-hour chart it is testing MA (200) H4 ($1.3700). Technically speaking, the resistance of $1.3735-50 may keep prices from further growth. If it breaks through, prices may rise to $1.3810. The lower bound of $1.3660 represents the support level. The most likely range of the pair's movement for today may be hidden within the range of $1.3660-1.3750.



Resistance levels are: $1.3735-50, $1.3810, $1.3855

Support levels are: $1.3660, $1.3610, $1.3570

The main scenario for the pair's promotion —if the resistance of $1.3735-50 (September 23-24 highs, session high) is broken, then the pair may rise to $1.3810 (September 17 high)

An alternative scenario — correction, and may be a decline to the session low of $1.3660


14 October 2021, 19:39

USD/CHF dropped to a monthly low

14 October 2021, 19:15

EUR/USD rose to a weekly high

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