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- GBP / USD remains above the MA (200) H1
GBP / USD remains above the MA (200) H1
Today, the GBP / USD pair is mostly declining from $1.2840 to $1.2785 after rising on Friday to a 3-week high of $1.2850. On the hourly chart, the pair remains above the MA (200) H1 ($1.2705) moving average line and on the four-hour chart above the MA (200) H4 ($1.2600). Technically speaking, the $1.2850 resistance keeps prices from rising further. The lower boundary of $1.2660-75 represents a strong support level.
⦁ Resistance levels are: $1.2850, $1.2970, $1.3090
⦁ Support levels are: $1.2725, $1.2660-75, $1.2590
The main scenario for the pair's advance implies a break of $1.2850 resistance (June 16 and July 7 highs) and there could be a rise to $1.3090 (April 21’ 2022 high).
The alternative scenario implies a break of $1.2725 support (July 7 low) and there could be a decline to $1.2660-75 (July 3 and 6 lows).
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