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- The GBP / USD pair consolidated above the MA (200) H1
The GBP / USD pair consolidated above the MA (200) H1
Today, the GBP/USD pair is trading with an increase from $1.3810 to a ten-day high of $1.3865. On the hourly chart, the pair rose above the moving average line MA (200) H1 ($1.3770), but on the four-hour chart it remains below MA (200) H4 ($1.3900). Technically speaking, a strong resistance level of $1.3875 may keep the pair from rising further. If it breaks through, prices can soar to $1.3960. The lower bound of $1.3805 represents the support level. If this level is passed, prices may follow a correction to $1.3745-70. The most likely range of price movement for today may be hidden within the range of $1.3805-75
⦁ Resistance levels are: $1.3875, $1.3960, $1.4000
⦁ Support levels are: $1.3805, $1.3745-70, $1.3705
The main scenario for the pair's promotion - break of the resistance of $1.3875 (March 22 high) and may be an increase to $1.3960 (March 19 high)
An alternative scenario - correction, a break of the support of $1.3805 (April 2 low) and then, perhaps, a decline to $1.3745-70 (April 1 low, MA (200) H1)
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