mql5

GBP/USD: ranging within bullish levels. The pair is located to be below 100 period SMA (100-SMA) and below 200 period SMA (200-SMA) for the primary bearish market condition for the ranging within the following key levels:

• 1.4600 psy resistance level, and
• 1.3800 psy support level.

The price is trying to break 1.3877 key support from above to below on close daily bar for the bearish trend to be continuing with 1.3800 psy support level as the next bearish target.

• if the price breaks 1.4600 psy resistance level on close daily bar so the local uptrend as the bear market rally will be started with the good possibility to the bullish reversal from 1.4800 level to be broken;
• if the price breaks 1.3800 psy support level so the bearish trend will be continuing;
• if not so the price will be moved within the channel for the ranging bearish.

Resistance	Support
1.4600	1.3800
1.4800	N/A