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- GBP / USD fell to a new 6-month low.
GBP / USD fell to a new 6-month low.
Today, the GBP / USD pair is trading in the range of 1.2135-65, reaching a new 6-month low. On the hourly chart, the pair fell below the MA (200) H1(1.2305) moving average line. On the four-hour chart, the pair remains below the MA (200) H4(1.2540). Technically speaking, the support level of 1.2100 may keep prices from further declines. In case it is broken, the pair may fall to 1.2010. The upper boundary of 1.2450 represents a strong resistance level.
⦁ Resistance levels are: 1.2250, 1.2305, 1.2425-50
⦁ Support levels are: 1.2100, 1.2010, 1.1900
The main scenario of the pair's advance suggests a break of the support at 1.2100 (March 17 low) and there may be a decline to 1.2010 (March 15 low).
The alternative scenario implies a break of resistance 1.2250 (Sept 25 high) and MA (200) H1(1.2305) and there could be a rise to 1.2425-50 (Sept 15 and 19-20 highs).
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