The UK government representative on Brexit, Michael Gove, spoke for three hours with his EU counterpart Maros Sefcovic to discuss the Northern Ireland protocol, without success. Many investors have been trying to forget about the problem, but friction on several fronts can still drag the pound down.
On the technical level we note that the GBP / USD is trading below the SMA of 21 and below the +1/8 of murray, both levels are key, if the British pound trades below this area we can expect a Bearish movement to the support levels of the 200 EMA.
The level of the SMA of 21 around 1.3815. now it has become a strong resistance, and it is likely that we will see a bearish movement in the next few hours, as the eagle indicator is showing a slight lower signal.
The 200 EMA on the 4-hour charts around 1.3671 will be the next support for the pair and the immediate target in the event of a downward correction.
The latest bearish candles below 1.3815 confirm that a decline in GBP / USD could be triggered in the coming days.On the contrary, a weekly close above 1.3830 could change the bearish outlook and start a new bullish wave.
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Support And Resistance Levels For February 12 - 15, 2021
Resistance (1) 1.3817
Resistance (2) 1.3846
Resistance (3) 1.3876
Support (1) 1.3763
Support (2) 1.3728
Support (3) 1.3684
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Trading tip for GBP/USD for February 12 - 15, 2021
Sell below 1.3817 (SMA 21) with take profit at 1.3760 and 1.3675 (EMA 200), stop loss above 1.3855.
