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- GBP/USD is trading slightly below MA (200) H1
GBP/USD is trading slightly below MA (200) H1
Today, the GBP/USD pair is trading in the range of 1.2870-1.2915 after rising last week to an annual high of 1.3050. On the hourly chart, GBP/USD fell slightly below the moving average line MA (200) H1 (1.2945), but on the four-hour chart it remains above MA (200) H4 (1.2790). Technically speaking, the support of 1.2850 keeps the pair from further decline for now. If this level is passed, then GBP/USD may fall to 1.2780. The upper limit of 1.3050 represents a strong resistance level.
⦁ Resistance levels are: 1.2945, 1.3000, 1.3050
⦁ Support levels are: 1.2850, 1.2780, 1.2680
The main scenario for the pair's promotion assumes a breakout of 1.2945 (July 25 high, MA (200) H1), an increase to 1.3000 (July 15 high) and then maybe to 1.3050 (July 19’ 2023 high and July 17 high)
An alternative scenario implies a breakout of support at 1.2850 (July 8 high, July 11 low) and there may be a decrease to 1.2780 (July 9 low)
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