- Analytics
- Market analysis
- Technical Analysis
- GBP/USD is trading near a one-month high
GBP/USD is trading near a one-month high
Today, the GBP/USD pair is trading with an increase in the range of $1.3880-1.3935-slightly below the monthly maximum of $1.3980 reached last week. On the hourly chart, the pair is trading above the moving average line MA (200) H1 ($1.3855) and on the four - hour chart-above MA (200) H4 ($1.3840). Technically speaking, a strong resistance level of $1.3980 can keep prices from further growth. If it breaks through, prices may rise to $1.4010. The lower limit of $1.3840-75 represents the support level. The most likely range of the pair's movement for oil today may be hidden within the range of $1.3840-1.3980
⦁ Resistance levels are: $1.3840-75, $1.3765, $1.3690
⦁ Support levels are: $1.3895, $1.3845, $1.3765
The main scenario for the pair's promotion - the resistance breakout is $1.3980 (July 29-30 high) and there may be an increase to $1.4010 (June 17 high)
An alternative scenario - if the support of $1.3840-75 (July 28 and August 2 lows, MA (200) H1) is broken, the pair may fall to $1.3765 (July 27 low)
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