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- GBP / USD is testing the MA (200) H1.
GBP / USD is testing the MA (200) H1.
Today, the GBP / USD pair is trading in the range of 1.2575-1.1605 and is testing the MA (200) H1 (1.2600) moving average line on the hourly chart. On the four-hour chart, GBP / USD is trading below the MA (200) H4(1.2670). Technically speaking, the support level of 1.2575 may keep prices from further declines. In case of its breakdown, the pair may fall to 1.2520. The upper boundary of 1.2690 represents a strong resistance level.
⦁ Resistance levels are: 1.2610, 1.2690, 1.2775-85
⦁ Support levels are: 1.2575, 1.2520-35, 1.2300
The main scenario for the pair suggests a break of the session low of 1.2575 and a possible decline to 1.2520-35 (Feb 5 and 14 lows)
The alternative scenario implies a break of the resistance at 1.2610 (Feb 14 high) and a possible rise to 1.2690 (Feb 13 high).
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