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GBP/USD – watch out for bullish hourly 50-MA and 100-MA crossove

FX:GBPUSD   BRITISH POUND / U.S. DOLLAR
Resistance – 1.3407 (hourly 100-MA), 1.35, 1.3567 (23.6% of 1.5019-1.3119)

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.
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