GBP/USD, Technical Analysis – H1
GBP/USD is currently consolidating near a key slanted support on the H1 chart, with the setup increasingly favoring a downside resolution.
The p
air is consolidating within the zone of the slanted support, which, in the current configuration, points to an approaching resolution with a downward breakout. At the same time, an actual break has not yet occurred, so the possibility that the current consolidation will continue for some time cannot be ruled out.
Key Levels:
□ 1.3330–1.3360 — Consolidation / slanted support zone
□ 1.3280 — Downside target
Primary Scenario:
Decline to 1.3280.
Alternative Scenario:
Flat within the 1.3330–1.3360 range.
Analyst Commentary:
Possible upward price moves will provide selling opportunities.
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.