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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 $1.3720-70, but remains below the MA (200) H1 moving average line ($1.3790). On the four-hour chart, the pair is trading below MA (200) H4 ($1.3850). Technically speaking, the resistance of $1.3775-90 may keep the pair from rising. The lower bound of $1.3670 represents a strong support level. The most likely range of price movement for today may be hidden within the range of $1.3670-1.3790
⦁ Resistance levels are: $1.3775-90, $1.3840, $1.3920
⦁ Support levels are: $1.3705-20, $1.3670, $1.3610
The main scenario for the pair's promotion - if the support of $1.3705-20 (March 30-31 and April 8 lows) is broken, the pair may fall to $1.3670 (March 25, April 9-12 low)
An alternative scenario - growth to $1.3775-90 (April 8 and 12 highs, MA (200) H1) and then maybe to $1.3840 (April 7 high)
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