Source: PaxForex Premium Analytics Portal, Technical Insight
The GBP/USD is declining more than 50 pips and is trading under the 20 SMA again for the first time in a month.
GBP/USD, D1
Pivot: 1.4133
Analysis:
While the price is above 1.3950, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.4133
- Take Profit 1: 1.4240
- Take Profit 2: 1.4380
Alternative scenario:
If the level 1.3950 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3950
- Take Profit 1: 1.3800
- Take Profit 2: 1.3670
Comment:
RSI shows the development of an uptrend in a medium term.
Key levels:
| Resistance | Support |
| 1.4500 | 1.3950 |
| 1.4380 | 1.3800 |
| 1.4240 | 1.3670 |
