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- GBP / USD continues yesterday's growth.
GBP / USD continues yesterday's growth.
Today, the GBP / USD pair continues yesterday's gains and rose from 1.2610 to a 2-week high of 1.2725. The pair broke through the 1.2650 resistance, which was the nearest support. On the hourly chart, GBP / USD rose above the MA (200) H1(1.2585) moving average line and on the four-hour chart above the MA (200) H4 (1.2460). Technically speaking, the resistance level at 1.2730 may keep prices from rising further. In case it is broken, the pair may rise to 1.2765. The lower boundary of 1.2500 represents a strong support level.
⦁ Resistance levels are: 1.2730, 1.2765, 1.2800
⦁ Support levels are: 1.2650, 1.2585, 1.2500
The main scenario for the pair suggests a break of resistance at 1.2730 (Nov 29 high) and a possible rise to 1.2765 (Aug 23 high)
The alternative scenario implies a break of support at 1.2650 (Dec 5 high) and MA (200) H1(1.2585) and a decline to 1.2500 (Dec 13 low).
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