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- GBP / USD is trading near the 2-month high.
GBP / USD is trading near the 2-month high.
The GBP / USD pair is trading in the range of 1.2450-1.2500 today, after a sharp rise yesterday to a 2-month high of 1.2510. The pair broke through the 1.2430 resistance, which was the nearest support. On the hourly chart, GBP / USD consolidated above the MA (200) H1(1.2310) moving average line and on the four-hour chart above the MA (200) H4 (1.2210). Technically speaking, the resistance level at 1.2510 may keep prices from rising further. In case it is broken, the pair may rise to 1.2550. The lower boundary of 1.2185 represents a strong support level.
⦁ Resistance levels are: 1.2510, 1.2550, 1.2590
⦁ Support levels are: 1.2430, 1.2310, 1.2185
The main scenario for the pair suggests a break of the resistance at 1.2510 (Sept 13-14 and Nov 14 high) and a possible rise to 1.2550 (Sept 15 high)
The alternative scenario implies a break of support at 1.2430 (Nov 6 high) and a possible decline to 1.2310 (Nov 9 high, MA (200) H1).
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