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- GBP / USD is trading near the almost 3-month high.
GBP / USD is trading near the almost 3-month high.
Today, the GBP / USD pair is trading in the range of 1.2605-45 - near the almost 3-month high. On the hourly chart, GBP / USD remains above the MA (200) H1(1.2525) moving average line and on the four-hour chart above the MA (200) H4 (1.2295). Technically speaking, the resistance level at 1.2645 may keep prices from rising further. In case it is broken, the pair may rise to 1.2710. The lower boundary of 1.2450 represents a strong support level.
⦁ Resistance levels are: 1.2645, 1.2710, 1.2750
⦁ Support levels are: 1.2590, 1.2525, 1.2450
The main scenario of the pair's advance suggests a break of the resistance at 1.2645 (Sept 4 and Nov 27 high) and there may be a rise to 1.2710 (Sept 1 high).
The alternative scenario implies a break of support at 1.2590 (Nov 27 low) and maybe a decline to 1.2525 (Nov 24 low, MA (200) H1).
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