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- GBP/USD is trading near the lows of June 2020
GBP/USD is trading near the lows of June 2020
Today, the GBP/USD pair is trading in the range of $1.2260-1.2350 - near the lows of June 2020. On the hourly chart, GBP/USD has consolidated below the moving average line MA (200) H1 ($1.2485) and on the four-hour chart remains below MA (200) H4 ($1.2900). Technically speaking, the support of $1.2250-60 may keep prices from further decline. The upper limit of $1.2640 represents the resistance level.
⦁ Resistance levels are: $1.2380, $1.2485, $1.2640
⦁ Support levels are: $1.2250-60, $1.2205, $1.2160
The main scenario for the pair's promotion — support breakthrough of $1.2250-60 (June 30’ 2020 low, session minimum) and may be reduced to $1.2205 (May 27’ 2020 low)
An alternative scenario — the resistance breakout is $1.2380 (May 6 high) and there may be an increase to MA (200) H1 ($1.2485)
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