GBP/USD failed to settle above the resistance at the 50 EMA at 1.3880 and is trying to settle below the support at the 20 EMA at 1.3860. In case GBP/USD manages to settle back below the 20 EMA, it will gain downside momentum and head towards the next support level which is located at 1.3835.
A move below the support at 1.3835 will open the way to the test of the next support at 1.3800. If GBP/USD declines below 1.3800, it will head towards the support at 1.3780.
On the upside, GBP/USD needs to settle above the resistance at the 50 EMA at 1.3880 to have a chance to develop additional upside momentum in the near term. RSI is in the moderate territory, and there is plenty of room to develop upside momentum in case the right catalysts emerge.
A successful test of the resistance at 1.3880 will push GBP/USD towards the next resistance at 1.3900. If GBP/USD moves above this level, it will head towards the resistance at 1.3920.
Referance :- Click here
A move below the support at 1.3835 will open the way to the test of the next support at 1.3800. If GBP/USD declines below 1.3800, it will head towards the support at 1.3780.
On the upside, GBP/USD needs to settle above the resistance at the 50 EMA at 1.3880 to have a chance to develop additional upside momentum in the near term. RSI is in the moderate territory, and there is plenty of room to develop upside momentum in case the right catalysts emerge.
A successful test of the resistance at 1.3880 will push GBP/USD towards the next resistance at 1.3900. If GBP/USD moves above this level, it will head towards the resistance at 1.3920.
Referance :- Click here