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- GBP / USD remains above the MA (200) H1.
GBP / USD remains above the MA (200) H1.
Today the GBP / USD pair is trading in the range of 1.2775-1.2810 after rising last week to an 8-month high of 1.2895. On the hourly chart, the pair remains above the MA (200) H1(1.2750) moving average line and on the four-hour chart above the MA (200) H4 (1.2670). Technically speaking, the resistance level at 1.2860 may keep prices from rising further. In case it is broken, the pair may rise to 1.2895. The lower boundary of 1.2730 represents a strong support level.
⦁ Resistance levels are: 1.2825, 1.2860, 1.2895
⦁ Support levels are: 1.2730-50, 1.2670, 1.2600
The main scenario for the pair suggests a break of resistance at 1.2825 (March 12 high) and a possible rise to 1.2895 (8 March high)
The alternative scenario implies a break of the support at 1.2730-50 (March 12 low, MA (200) H1) and a decline to 1.2670 (March 5 low).
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