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- GBP / USD remains above the MA (200) H1.
GBP / USD remains above the MA (200) H1.
The GBP / USD pair is trading in the 1.2375-1.2425 range today, having retreated from the 2-month high of 1.2510 yesterday. On the hourly chart, GBP / USD remains above the MA (200) H1(1.2320) 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: 1.2320, 1.2185, 1.2070
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)
Alternative scenario implies a break of MA (200) H1(1.2320) and there could be a decline to 1.2185 (Nov 10 low)
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