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- GBP / USD is testing the MA (200) H1.
GBP / USD is testing the MA (200) H1.
Today the GBP / USD pair is mostly rising in the range of 1.2090-1.2140 after declining last week to a 3-week low of 1.2070. On the hourly chart, the pair is testing the MA (200) H1(1.2150) moving average line and remains below the MA (200) H4 (1.2210) on the four-hour chart. Technically speaking, the resistance level at 1.2225 may keep prices from rising further. In case it is broken, the pair may rise to 1.2290. The lower boundary of 1.2070 represents a strong support level.
⦁ Resistance levels are: 1.2225, 1.2290, 1.2340
⦁ Support levels are: 1.2140, 1.2070, 1.2035
The main scenario for the pair suggests a decline to the session low of 1.2140 and then, maybe, to 1.2070 (Oct 26 low).
The alternative scenario implies a break of resistance at 1.2225 (Oct 13 high) and maybe a rise to 1.2290 (Oct 24 high).
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