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- GBP / USD is testing the MA (200) H1.
GBP / USD is testing the MA (200) H1.
Today the pair GBP / USD continues yesterday's decline and dropped from 1.2175 to 1.2110 and on the hourly chart is testing the moving average line MA (200) H1(1.2175). On the four-hour chart, the situation is similar. Technically speaking, the support level of 1.2090 can keep prices from further decline. In case of its breakdown, the pair may fall to 1.2035. The upper boundary of 1.2290 represents a strong resistance level.
⦁ Resistance levels are: 1.2175, 1.2225, 1.2290
⦁ Support levels are: 1.2090, 1.2035, 1.2010
The main scenario for the pair suggests support at 1.2090 (Oct 19-20 low) and could be down to 1.2035 (Oct 4 low).
The alternative scenario implies a break of the session high of 1.2175 and resistance at 1.2225 (Oct 13 high) and there could be a rise to 1.2290 (Oct 24 high)
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