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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 trading in the range of 1.2200-60 - slightly above the weekly low of 1.2185 reached on Friday. The pair is testing the strength of the MA (200) H1(1.2260) moving average line on the hourly chart and the MA (200) H4 (1.2195) on the four-hour chart. Technically speaking, the support level at 1.2155 may keep prices from declining. In case of its breakdown, the pair may fall to 1.2070. The upper boundary of 1.2310 represents a strong resistance level.
⦁ Resistance levels are: 1.2310, 1.2430-50, 1.2510
⦁ Support levels are: 1.2185, 1.2155, 1.2070
The main scenario for the pair suggests a break of the resistance at 1.2310 (Nov 9 high) and maybe a rise to 1.2430-50 (Sept 15 and Nov 6 highs)
The alternative scenario implies a break of support at 1.2185 (Nov 10 low) and may be a decline to 1.2155 (Nov 2 low)
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