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- GBP/USD dropped to a new 2-week low
GBP/USD dropped to a new 2-week low
Today, the GBP/USD pair is mainly declining from 1.2890 to 1.2810, reaching a new 2-week low. On the hourly chart, GBP/USD has fallen below the MA (200) H1 (1.2920) moving average line, but on the four-hour chart it can test the strength of MA (200) H4 (1.2795). Technically speaking, the support of 1.2780 may prevent the pair from further decline. If this level is passed, then GBP/USD may fall to 1.2680. The upper limit of 1.945 represents a strong resistance level.
⦁ Resistance levels are: 1.2890, 1.2945, 1.2995
⦁ Support levels are: 1.2780, 1.2680, 1.2610
The main scenario for the pair's promotion assumes a breakout growth to the session maximum of 1.2890 and then, perhaps, to 1.2945 (July 22 high).
An alternative scenario implies a breakout of support at 1.2780 (July 9 low) and may be a decline to 1.2680 (July 3 low)
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