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- GBP / USD is trading above MA 200 H1
GBP / USD is trading above MA 200 H1
On Friday, the GBP/USD pair traded mostly down from $1.4005 to $1.3860, but closed the day in positive territory near the price of $1.3920. Today, the pair was trading in a narrow range of $1.3915-50, remaining close to Friday's closing price. On the hourly chart, GBP / USD broke through and consolidated above the MA (200) H1 moving average line ($1.3905). On the four-hour chart, the situation is similar. Based on the above, it is probably worth sticking to the north direction in trading and as long as the pair remains above MA 200 H1, it is necessary to look for entry points to buy for the formation of a correction.
Resistances levels are at: $1.3950, $1.4005-15, $1.4085
Support levels are at: $1.3905, $1.3845-60, $1.3800
Probably, the main scenario - continued growth to $1.4005-15 (March 3-4 and 12 highs).
An alternative scenario - may be a break in the support of MA (200) H1 ($1.3905), followed by a decline to $1.3845-60 (March 10 and 12 lows).
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