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- GBP/USD remains below MA (200) H1
GBP/USD remains below MA (200) H1
Today, since the start of trading, the GBP/USD pair has declined from $1.3240 to $1.3170, but later rose slightly to $1.3210. On the hourly chart, MA (200) H1 ($1.3240) remains below the moving average line and on the four-hour chart, it is trading below MA (200) H4 ($1.3365). Technical resistance, support of $1.3170 kept the pair from further decline. The lower bound of $1.3240 represents the resistance level. If it breaks through, GBP/USD may rise to $1.3290. The most likely range of the pair's movement today may be hidden in the range of $1.3160-1.3240
⦁ Resistance levels are: $1.3240, $1.3290, $1.3340
⦁ Support levels are: $1.3160-70, $1.3135, $1.3105
The main scenario for the pair's promotion — correction, decline to $1.3160-70 (December 8-9 and 15 lows, session low) and then, maybe, to $1.3135 (December 11’ 2020 low)
An alternative scenario — if the level of MA (200) H1 ($1.3240) is broken, the pair may rise to $1.3290 (December 6-7 high)
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