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- GBP / USD rose to a 5-week high.
GBP / USD rose to a 5-week high.
Today, the GBP / USD pair continues to grow and rose from 1.2365 to 1.2430, reaching a 5-week high. The pair broke through the resistance of 1.2290, which became the nearest support. On the hourly chart, GBP / USD is fixed above the line of moving average MA (200) H1 (1.2170). On the four-hour chart, the pair rose above MA (200) H4 (1.2190). Technically speaking, the resistance level of 1.2450 can keep prices from rising further. In the case of its penetration, the pair may rise to 1.2510. The lower bound of 1.2185 represents a strong level of support.
⦁ Resistance levels are: 1.2450, 1.2510, 1.2550
⦁ Support levels are: 1.2365, 1.2290, 1.2185
The main scenario for the pair’s advancement is an increase to 1.2450 (Sept 15 high) and may be an increase to 1.2510 (Sept 13 high).
An alternative scenario implies a breakthrough of the session minimum of 1.2365 and support of 1.2290 (Oct 24 high) may be a decrease to 1.2185 (Nov 3 low).
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