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- GBP / USD fell to a 2-month low
GBP / USD fell to a 2-month low
Today, the GBP / USD pair continues the decline that started on Friday and dropped from 1.2630 to 1.2565, reaching a 2-month low. On the hourly chart, the pair fell below the MA (200) H1(1.2695) moving average line. On the four-hour chart, the situation is similar. Technically speaking, the support at 1.2500 may keep prices from further decline. In case of its breakdown, the pair may fall to 1.2450. The upper boundary of 1.2775 represents a strong resistance level.
⦁ Resistance levels are: 1.2630, 1.2695, 1.2775-85
⦁ Support levels are: 1.2500, 1.2450, 1.2375
The main scenario for the pair suggests a break of support at 1.2500 (Dec 8 and 13 low) and maybe a decline to 1.2450 (Nov 22 low).
The alternative scenario implies a break of the session high to 1.2630 and MA (200) H1(1.2695) and then, maybe, a rise to 1.2775 (Feb 2 high).
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