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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 trading in the range of 1.2755-1.2800 and remains slightly above the MA (200) H1(1.2720) moving average line on the hourly chart. On the four-hour chart, the pair is trading below the MA (200) H4(1.2830). Technically speaking, the MA (200) H1(1.2720) level may keep prices from further declines. In case of a breakout, GBP / USD could fall towards 1.2690. The upper boundary of 1.2800 represents a strong resistance level. The most likely range of the pair's movement for today may be hidden within the existing range of 1.2690-1.2800
⦁ Resistance levels are: 1.2800, 1.2840, 1.2890
⦁ Support levels are: 1.2720, 1.2690, 1.2615
The main scenario for the pair suggests a decline to the MA (200) H1(1.2720) and then, maybe, to 1.2690 (low of Aug 16 and 18)
The alternative scenario implies a break of the session high of 1.2800 and may lead to a rise to 1.2840 (Aug 1 high).
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