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- GBP / USD remains below MA (200) H1
GBP / USD remains below MA (200) H1
Today, the GBP/USD pair is trading in the range of $1.3845-1.3910, having retreated from a one-month low yesterday. On the hourly chart, the pair remains below the moving average line MA (200) H1 ($1.3905), but on the four-hour chart it broke through MA (200) H4 ($1.3845). Technically speaking, the resistance of $1.3905-30 may keep prices from rising further. If it breaks through, the pair may rise to $1.4015. The lower bound of $1.3775 represents the nearest support level.
⦁ Resistance levels are: $1.3905-30, $1.4015, $1.4085
⦁ Support levels are: $1.3775-1.3800, $1.3680, $1.3565
The main scenario for the pair's promotion - if the resistance of $1.3905-30 (March 5 and 9 highs, session high, MA (200) H1) is broken, the pair can rise to $1.4015 (March 4 high)
An alternative scenario - correction and may be a decline to $1.3775-1.3800 (March 5-9 lows)
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