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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 1.2960-90 after retreating slightly from a new 2-month low of 1.2905 yesterday. On the hourly chart, the pair can test the strength of the MA (200) H1 (1.3000) moving average line, but on the four-hour chart it remains below MA (200) H4 (1.3150). Technically speaking, the resistance of 1.3115 may keep GBP/USD from further growth. If this level is passed, then GBP/USD may rise to 1.3070. The lower bound of 1.2905 represents a strong support level.
⦁ Resistance levels are: 1.3015, 1.3070, 1.3105-15
⦁ Support levels are: 1.2905, 1.2800, 1.2725
The main scenario for the pair's promotion assumes a breakout of support at 1.2905 (Oct 23-24 low) and may be a decrease to 1.2800 (Aug 15 low)
An alternative scenario implies a breakout of the resistance of 1.3015 (Oct 21 high), an increase to 1.3070 (Oct 18 high) and then, maybe, 1.3105-15 (Oct 8 and 15 high)
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