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- GBP / USD is trading near the weekly high.
GBP / USD is trading near the weekly high.
Today, the GBP / USD pair is trading in the range of 1.2740-70 - near the weekly high. On the hourly chart, the pair rose slightly above the MA (200) H1 moving average line (1.2710). On the four-hour chart, the situation is similar. Technically speaking, the resistance at 1.2785 may keep prices from further growth. In case it is broken, the pair may rise to 1.2830. The lower boundary of 1.2625 represents a strong support level.
⦁ Resistance levels are: 1.2775-85, 1.2830, 1.2890
⦁ Support levels are: 1.2710, 1.2625, 1.2595
The main scenario for the pair suggests a break of the resistance at 1.2775-85 (Jan 11-12 and 24 highs) and maybe a rise to 1.2830 (Dec 28 high)
The alternative scenario implies a decline to the MA (200) H1 (1.2710) and then, maybe, to 1.2625 (Feb 1 low).
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