GBP/USD – watch out for bullish hourly 50-MA and 100-MA crossove
Resistance – 1.3407 (hourly 100-MA), 1.35, 1.3567 (23.6% of 1.5019-1.3119)
Support – 1.3354, 1.3286, 1.3226
Support – 1.3354, 1.3286, 1.3226
- Pair’s retreat from the NY session high of 1.3533 if followed by an hourly closing below the hourly 50-MA would open doors for a re-test of 1.3286 levels. The hourly RSI has dipped below 50.00 and that adds credence to the possible drop to 1.3286-1.32 levels.
- However, traders need to watch out for the bullish crossover between the hourly 50-MA and hourly 100-MA. Such a move would open doors for a rise to 1.3567 levels.
- Note, the bullish crossover following a bullish break from falling channel and bullish price RSI divergence would signal a short-term bottom is in place at 1.3119 levels.
