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- GBP/USD is testing MA (200) H1
GBP/USD is testing MA (200) H1
Today, the GBP/USD pair is trading in the range of 1.3035-95, after falling last week to a new monthly low of 1.3020. On the hourly chart, GBP/USD is testing the MA (200) H1 (1.3090) moving average line and remains below MA (200) H4 (1.3185) on the four-hour chart. Technically speaking, the support of 1.3020 keeps GBP/USD from further decline for now. If this level is passed, then GBP/USD may fall to 1.3000. The upper limit of 1.3180 represents a strong resistance level. The most likely range of the pair's movement for today may be hidden within the existing range of 1.3020-1.3115.
⦁ Resistance levels are: 1.3115, 1.3175, 1.3305
⦁ Support levels are: 1.3000-20, 1.2940, 1.2800
The main scenario for the pair's promotion assumes a breakout of the support 1.3000-20 (Sept 11 and Oct 10 lows) and there may be a decrease to 1.2940 (Aug 19 low)
An alternative scenario implies a breakout of the resistance of 1.3115 (Oct 8 high) and there may be an increase of 1.3175 (Oct 4 high)
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