![GBP/USD Intra-Day Technical Analysis - primary bearish or ranging bullish? GBP/USD Intra-Day Technical Analysis - primary bearish or ranging bullish?](https://c.mql5.com/6/689/splash-650110.jpg)
GBP/USD Intra-Day Technical Analysis - primary bearish or ranging bullish?
![Sergey Golubev Sergey Golubev](https://c.mql5.com/avatar/2012/12/50D09349-3D90.jpg)
H4 price is located below SMA with period 100 (100-SMA) and below SMA with the period 200 (200-SMA) waiting for the direction for the possible breakout or breakdown. The key support/resistance levels for this pair are the following: 1.5164 support level located in the primary bearish area of the chart, and 1.5366 resistance level located on the border between the primary bearish and ranging bullish market condition.
- If the price will break 1.5366 resistance level so the bullish trend may be started on this timeframe with secondary ranging.
- If price will break 1.5164 support level so the bearish trend will be continuing.
- If not so the price will be ranging within the levels.
Resistance | Support |
---|---|
1.5366 | 1.5164 |
N/A | N/A |
- Recommendation to go short: watch the price to break 1.5164 support level for possible sell trade
- Recommendation to go long: watch the price to break 1.5366 resistance level for possible buy trade
- Trading Summary: ranging
SUMMARY : ranging