Support level at 1.32300 was breached, and GBP/USD is now attempting to go below the next support level at 1.32000. GBP/USD is expected to advance towards the 1.31700 support level if this effort succeeds. Although the RSI is approaching oversold territory, there is still possibility for more negative momentum to build if the correct triggers are identified.
The support rests at 1.31960 with resistance at 1.32180. The pivot point at 1.32050 is located above the price line. The EMA of 10 is moving with bearish bias in the descendant channel and it is below EMA of 200 and the EMA of 100 which are moving downward. Stochastic is moving toward the oversold area. The RSI is moving under the level of 50 and the ADX is showing a downtrend. The MACD histogram is in negative territory and showing a sell signal.

• There is resistance at 1.32180, followed by resistance at 1.32270 and 1.32400.
• There is support at 1.31960. Below, there is 1.31830 and 1.31740.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.

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