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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 mainly with a decrease from $1.3880 to 1.3850, after rising during yesterday's US trading from $1.3800 to $1.3890. On the hourly chart, the pair remains below the moving average line MA (200) H1 ($1.3885), but on the four-hour chart it is trading slightly above MA (200) H4 ($1.3830). Technically speaking, a strong resistance level of $1.3885-95 can keep prices from rising. If it breaks through, prices may soar to $1.3930. The lower limit of $1.3800 represents the support level. The most likely range of the pair's movement for today may be hidden within yesterday's range of $1.3800-90.
⦁ Resistance levels are: $1.3885-95, $1.3930, $1.3960
⦁ Support levels are: $1.3800, $1.3765, $1.3690
The main scenario for the pair's promotion — there may be a decline in the pair to $1.3800 (August 11 low)
An alternative scenario — if the area of $1.3885-95 (August 9 and 11 highs, MA (200) H1) is broken, then the pair can rise to $1.3930 (August 6 high)
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