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- GBP / USD failed to rise above the MA (200) H1.
GBP / USD failed to rise above the MA (200) H1.
Today, the GBP / USD pair is mostly declining from 1.2715 to 1.2655, having lost almost all the positions gained yesterday. On the hourly chart, the pair failed to rise above the MA (200) H1 moving average line (1.2710). On the four-hour chart, GBP / USD is testing the MA (200) H4 (1.2670). Technically speaking, the support at 1.2650 may keep prices from further declines. In case it is broken, the pair may fall to 1.2595. The upper boundary of 1.2785 represents a strong comparative level.
⦁ Resistance levels are: 1.2710-15, 1.2785, 1.2830
⦁ Support levels are: 1.2650, 1.2595, 1.2500
The main scenario for the pair suggests a break of support at 1.2650 (Jan 18 low) and a possible decline to 1.2595 (Jan 17 low)
The alternative scenario implies a break of resistance at 1.2710-15 (session high, MA (200) H1) and a possible rise to 1.2785 (Jan 12 high).
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