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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 $1.3935-1.4005, after rising during yesterday's US trading from $1.3860 to $1.3975. On the hourly chart, the pair remains slightly below the moving average line MA (200) H1 ($1.4020), but on the four-hour chart it is trading above MA (200) H4 ($1.3810). Technically speaking, the resistance of $1.4005-20 may keep prices from rising. If it breaks through, the pair may rise to $1.4085. The lower bound of $1.3830-60 represents the main support level. The most likely range of price movement for today may be hidden within the range of $1.3860-1.4020.
⦁ Resistance levels are: $1.4005-20, $1.4085, $1.4180
⦁ Support levels are: $1.3935, $1.3830-60, $1.3775
The main scenario for the pair's promotion - break of the resistance of $1.4005-20 (session high, MA (200) H1), and then, maybe, a rise to $1.4085 (February 22 high)
An alternative scenario - breakout of the session low of $1.3935 and may be a decline to $1.3830-60 (February 16-17 and March 22 lows)
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