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- GBP / USD is trading near a 2-week low.
GBP / USD is trading near a 2-week low.
Today, the GBP / USD pair is trading in the range of 1.2555-1.2600, having reached a low of 1.2545 this week. On the hourly chart, GBP / USD has dipped slightly below the MA (200) H1(1.2630) moving average line, but remains above the MA (200) H4 (1.2405) on the four-hour chart. Technically speaking, the support level of 1.2525 may keep prices from further declines. In case of its breakdown, the pair may fall to 1.2450. The upper boundary of 1.2730 represents a strong resistance level.
⦁ Resistance levels are: 1.2615, 1.2650, 1.2730
⦁ Support levels are: 1.2525-45, 1.2450, 1.2375
The main scenario for the pair suggests a break of resistance at 1.2615 (Dec 7 high) and H1 MA (200) (1.2630) and maybe a rise to 1.2650 (Dec 5 high).
The alternative scenario implies a decline to 1.2525-45 (Nov 24 and Dec 7 lows) and then, maybe, to 1.2450 (Nov 23 low).
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