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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 mostly declining from 1.2610 to 1.2530, falling close to the 2-month low of 1.2520 reached earlier last week. On the hourly chart, the pair dipped below the MA (200) H1(1.2610) moving average line. On the four-hour chart, GBP / USD is trading below the MA (200) H4(1.2680). Technically speaking, the support level of 1.2500-20 may keep prices from further declines. In case of its breakdown, the pair may fall to 1.2450. The upper boundary of 1.2690 represents a strong resistance level.
⦁ Resistance levels are: 1.2610, 1.2690, 1.2775-85
⦁ Support levels are: 1.2500-20, 1.2450, 1.2375
The main scenario for the pair suggests a decline to 1.2500-20 (Dec 13 and Feb 5 lows) and then, maybe, a decline to 1.2470 (Nov 11 low)
The alternative scenario implies a break of resistance at 1.2610 (session high, MA (200) H1) and maybe a rise to 1.2690 (Feb 13 high).
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