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- The GBP/USD remains above MA 200 H1
The GBP/USD remains above MA 200 H1
Yesterday the GBP/USD traded higher and closed the day in the positive territory near the price of $1.2740. Today it, on the contrary, fell a little, dropping to the level of $1.2725. On the hourly chart, the GBP/USD remains above the MA (200) H1 moving average line ($1.2690). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the north direction in trading, and as long as the GBP/USD remains above MA 200 H1, it may be necessary to look for entry points to buy at the end of the correction.
Resistances levels are at: $1.2780, $1.2835-45, $1.2915
Support levels are at: $1.2660-75, $1.2590-00, $1.2555
Probably, the main scenario is continued growth towards $1.2780 (Jul 6 high).
The alternative scenario implies a final consolidation below the MA 200 H1 level, followed by a fall to $1.2590 (Jun 29 low).
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