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- GBP / USD remains below the MA (200) H1
GBP / USD remains below the MA (200) H1
Today, the GBP / USD pair is trading in the range of 1.2590-1.2640 after declining this week to a 2-month low of 1.2520. On the hourly chart, the pair remains below the MA (200) H1 (1.2650) moving average line. On the four-hour chart, the situation is similar. Technically speaking, the support level of 1.2590 may keep prices from further decline. In case of its breakdown, the pair may fall to 1.2520. The upper boundary of 1.0650 represents a strong resistance level.
⦁ Resistance levels are: 1.2640-50, 1.2775-85, 1.2830
⦁ Support levels are: 1.2590, 1.2520, 1.2500
The main scenario for the pair suggests a break of support at 1.2590 (Feb 7 low) and a possible decline to 1.2520 (Feb 5 low)
The alternative scenario implies a break of 1.2640-50 (Feb 7 high, MA (200) H1) and there may be a rise to 1.2775 (Feb 2 high).
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