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- GBP/USD is trading near the highs of March 2022
GBP/USD is trading near the highs of March 2022
Today, the GBP/USD pair is trading in the range of 1.3270-1.3340, having reached new highs in March 2022. The pair broke through the resistance of 1.3265 (maximum on August 27-28), which became the closest support. On the hourly chart, GBP / USD rose above the moving average line MA (200) H1 (1.3160) and on the four-hour chart above MA (200) H4 (1.3045). The pair remains in an uptrend. Technically speaking, the resistance of 1.3340 may keep GBP/USD from further growth. If this level is passed, then GBP/USD may rise to 1.3435. The lower bound of 1.3115 represents a strong support level.
⦁ Resistance levels are: 1.3340, 1.3435, 1.3650
⦁ Support levels are: 1.3265, 1.3165, 1.3115
The main scenario for the pair's promotion assumes a breakout of the session high of 1.3340 and may be an increase to 1.3435 (March 1’ 2022 high)
An alternative scenario implies a breakout of the support of 1.3265 (Aug 27-28 high) and 1.3165 (Sept 19 low, MA (200) H1) and there may be a decrease to 1.3115 (Sept 11 low)
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