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- GBP/USD rose to a near one-month high
GBP/USD rose to a near one-month high
Today, the GBP/ USD pair is trading in the range of 1.2800-30, having reached an almost monthly maximum during trading. On Friday, the pair broke through the resistance of 1.2780, which became the closest support. On the hourly chart, the pair consolidated above the moving average line MA (200) H1 (1.2695) and on the four-hour chart above MA (200) H4 (1.2720). Technically speaking, the resistance of 1.2850 may keep the pair from further growth. If this level is passed, then GBP/USD may rise to 1.2895. The lower bound of 1.2740 represents a strong support level.
⦁ Resistance levels are: 1.2830, 1.2860, 1.2895
⦁ Support levels are: 1.2780, 1.2740, 1.2680-95
The main scenario for the pair's promotion assumes a breakout of the session high of 1.2830 and there may be an increase to 1.2860 (June 12 high)
The alternative scenario implies a decrease to 1.2780 (July 3 high) and may be a decrease to 1.2740 (June 19 high and July 4 low)
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