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- GBP/USD is trading near a 2-week high
GBP/USD is trading near a 2-week high
Today, the GBP/USD pair is trading in the range of 1.2495-1.2550 - about a 2-week high. On the hourly chart, the pair rose above the moving average line MA (200) H1 (1.2450), but on the four-hour chart it remains below MA (200) H4 (1.2585). Technically speaking, the resistance level of 1.2580 can keep prices from possibly rising. If it breaks through, the pair may rise to 1.2710. The lower bound of 1.2300 represents a strong support level.
⦁ Resistance levels are: 1.2580, 1.2710, 1.2760
⦁ Support levels are: 1.2425-50, 1.2300, 1.2260
The main scenario for the pair's promotion assumes a decrease of 1.2425-50 (April 24-26 lows, MA (200) H1) and then, maybe, to 1.2300 (April 22 low)
An alternative scenario implies a breakout of the resistance of 1.2580 (April 11 high) and there may be an increase to 1.2710 (April 9-10 high)
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