The Relative Strength Index (RSI) indicator on the 4-hour chart declines toward 50, reflecting a loss of bullish momentum. However, GBP/USD continues to trade comfortably above the 100-period and the 200-period Simple Moving Averages (SMAs).
On the upside, 1.3540 (Fibonacci 61.8% retracement of the latest downtrend), aligns as the first resistance level ahead of 1.3600 (static level, round level) and 1.3640 (Fibonacci 78.6% retracement). Looking south, support levels could be seen at 1.3460 (Fibonacci 50% retracement), 1.3445-1.3435 (100-period SMA, 200-period SMA) and 1.3400-1.3390 (static level, Fibonacci 38.2% retracement).
On the upside, 1.3540 (Fibonacci 61.8% retracement of the latest downtrend), aligns as the first resistance level ahead of 1.3600 (static level, round level) and 1.3640 (Fibonacci 78.6% retracement). Looking south, support levels could be seen at 1.3460 (Fibonacci 50% retracement), 1.3445-1.3435 (100-period SMA, 200-period SMA) and 1.3400-1.3390 (static level, Fibonacci 38.2% retracement).
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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.