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- GBP/USD rose slightly above MA (200) H1
GBP/USD rose slightly above MA (200) H1
Today, the GBP/USD pair is trading in the range of 1.2580-1.2625 and has risen above the MA (200) H1 (1.2540) moving average line on the hourly chart. The situation is similar on the four-hour chart. Technically speaking, the resistance level of 1.2635 can keep prices from rising further. If it breaks through, the pair may rise to 1.2710. The lower bound of 1.2500 represents a strong support level.
⦁ Resistance levels are: 1.2635, 1.2710, 1.2760
⦁ Support levels are: 1.2500, 1.2420-45, 1.2300
The main scenario for the pair's promotion assumes a breakout of the resistance of 1.2635 (May 3 high) and there may be an increase to 1.2710 (April 9-10 high).
An alternative scenario implies a breakout of support 1.2500 (May 10 low) and there may be a decrease to 1.2420-45 (April 2 and May 9 lows).
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