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- GBP / USD is rising and testing the MA (200) H1.
GBP / USD is rising and testing the MA (200) H1.
Today, the GBP / USD pair is mostly rising in the 1.2190-1.2270 range, further retreating from the 6-month low of 1.2110 reached on Wednesday. On the hourly chart, the pair is testing the MA (200) H1(1.2250) moving average line. On the four-hour chart, GBP / USD remains below the MA (200) H4 (1.2510). Technically speaking, the resistance level at 1.2270 may keep prices from rising further. If it is broken, the pair could rise to 1.2335. The lower boundary of 1.2110 represents a strong support level.
⦁ Resistance levels are: 1.2270, 1.2335, 1.2425-50
⦁ Support levels are: 1.2190, 1.2110, 1.2010
The main scenario for the pair suggests a break of support at 1.2190 (Sept 25 low, session low) and may be a decline to 1.2110 (Sept 27 low).
The alternative scenario implies a break of the session high of 1.2270 and may be a rise to 1.2335 (Sept 20 low, high of the European session on Sept 21).
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