GBP/USD (a 4-hour chart)
There were no macroeconomic releases in the
The pound trades within a tight range on Monday, not far from Friday's low. The price went back and forth between 1.3244 – 1.3285 during the day. The pound/dollar recovered at the start of the North American session. The price briefly broke the 50-EMA and immediately returned above it in the 4 hours chart. The 100-EMA is crossing the 200-EMA upwards in the same chart. The moving averages preserve a bullish slope. The current resistance is seen at 1.3360, the support exists at 1.3200.
MACD is in the negative territory. MACD decreased which confirms the strength of sellers.
RSI is approaching oversold territory.
A bearish continuation through the 1.3200 level should lead to a continued decrease, with 1.3100 as the first target. The sterling can recover to the 1.3360 region.