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- GBP/USD is trading near a 10-day low
GBP/USD is trading near a 10-day low
Today, the GBP/USD pair is trading in the range of 1.3260-1.3305 after falling yesterday to a 10-day low of 1.3235. On the hourly chart, the pair fell slightly below the moving average line MA (200) H1 (1.3350), but on the four-hour chart it remains above MA (200) H4 (1.3190). Technically speaking, the support of 1.3235 keeps GBP/USD from further decline for now. If this level is passed, then GBP/USD may fall to 1.3145. The upper limit of 1.3435 represents a strong resistance level.
⦁ Resistance levels are: 1.3350, 1.3435, 1.3650
⦁ Support levels are: 1.3235, 1.3145, 1.3000
The main scenario for the pair's promotion assumes a breakthrough of MA (200) H1 (1.3350), there may be an increase to 1.3435 (Sept 25-26 and March 1’ 2022 high)
An alternative scenario implies a breakout of support at 1.3235 (Oct 1 low) and may be a decline to 1.3145 (Sept 17 low)
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