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- GBP / USD remains slightly above the MA (200) H1.
GBP / USD remains slightly above the MA (200) H1.
The GBP / USD pair rallied to a 10-day high of 1.2290 from the start of trading today, but declined to 1.2210 during the European session. On the hourly chart, the pair remains slightly above the MA (200) H1(1.2180) moving average line, but is testing the MA (200) H4 (1.2265) on the four-hour chart. Technically speaking, the support level of 1.2145 may keep prices from further declines. In case of its breakdown, the pair may fall to 1.2090. The upper boundary of 1.2290 represents a strong resistance level. The most probable range of the pair's movement for today may be hidden within the range of 1.2145-1.2290.
⦁ Resistance levels are: 1.2290, 1.2340, 1.2425-45
⦁ Support levels are: 1.2180, 1.2145, 1.2090
The main scenario for the pair suggests a break of the MA (200) H1(1.2180) and a decline to 1.2145 (Oct 23 low).
The alternative scenario implies a break of the session high of 1.2290 and may be a rise to 1.2340 (Oct 11 high).
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