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- GBP / USD is trading near a 2-month low.
GBP / USD is trading near a 2-month low.
Today, the GBP / USD pair is trading in the range of 1.2525-1.2630 - near the 2-month low of 1.2520 reached yesterday. On the hourly chart, the pair fell below the MA (200) H1(1.2675) moving average line. On the four-hour chart, the situation is similar. Technically speaking, the support at 1.2520 may keep prices from further decline. In case of its breakdown, the pair may fall to 1.2500. The upper boundary of 1.2675 represents a strong resistance level.
⦁ Resistance levels are: 1.2565, 1.2630, 1.2675
⦁ Support levels are: 1.2520, 1.2500, 1.2450
The main scenario for the pair suggests a break of the support at 1.2520 (Feb 5 low) and a possible decline to 1.2500 (Dec 8 and 13 low)
The alternative scenario implies a break of the session high of 1.2565 and a possible rise to 1.2630 (Feb 5 high).
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