Yesterday the GBP/USD was trading higher and closed the day in positive territory around the $1.2885. Today it was trading in a narrow range of $1.2875-15, staying close to yesterday's closing price. On the hourly chart, GBP/USD is still trading below the MA (200) H1 ($1.3000) moving average line. The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth adhering to the south direction in trading and while the GBP/USD remains below MA 200 H1, it may be necessary to look for a sell entry point to form a correction.
Resistances levels are at: $1.2980, $1.3035, $1.3160-80
Support levels are at: $1.2815, $1.2765, $1.2720
Probably, the main scenario - is a continuation of the decline to $1.2815 (Sep 15 low). An alternative scenario - may be consolidation above the MA 200 H1 level with a subsequent rise to $1.3160 (Sep 8 high).
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