A break below 1.31400 on the GBP/USD currency pair is now being sought, as the US dollar strengthens versus a wide range of currencies. The US Dollar Index has risen over the previous barrier level of 99 and is now testing the next level of resistance at 99.20. It would be negative for the GBP/USD if the US Dollar Index rises over this level and moves towards the next barrier at 99.45.
In this case, support is found at 1.31400, while the resistance is found at 1.31600. Below the price line, at 1.31530, is the pivot point. To put it simply, the EMA of 10 is moving downward below the EMA of 200 and the EMA of 100 which are slightly moving downward. Stochastic is moving toward the oversold zone. The RSI is moving near the level of 50 and the ADX is not showing a clear signal. The MACD histogram is in negative territory with the signals showing a downtrend.

• There is resistance at 1.31600, followed by resistance at 1.31730 and 1.31800.
• There is support at 1.31400. Below, there is 1.31330 and 1.31200.

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.