The Relative Strength Index (RSI) moves sideways slightly below 50 and GBP/USD trades at around the 50-period and the 20-period Simple Moving Averages (SMA) on the 4-hour chart, reflecting a lack of directional momentum.
On the upside, 1.3500 (mid-point of the ascending channel, round level) could be seen as the first resistance level ahead of 1.3600 (end-point of the uptrend).
Looking south, interim support could be seen at 1.3430 (static level) before 1.3380-1.3370, where the Fibonacci 23.6% retracement level, the 20-day Simple Moving Average (SMA) and the 100-period SMA on the 4-hour chart align. A daily close below this area could attract technical sellers and open the door for another leg lower toward 1.3300 (static level, round level).
On the upside, 1.3500 (mid-point of the ascending channel, round level) could be seen as the first resistance level ahead of 1.3600 (end-point of the uptrend).
Looking south, interim support could be seen at 1.3430 (static level) before 1.3380-1.3370, where the Fibonacci 23.6% retracement level, the 20-day Simple Moving Average (SMA) and the 100-period SMA on the 4-hour chart align. A daily close below this area could attract technical sellers and open the door for another leg lower toward 1.3300 (static level, round level).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.