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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 1.2640-1.2700 - slightly below the 2-week high of 1.2750 reached on Friday. On the hourly chart, the pair is testing the MA (200) H1 (1.2625) moving average line, but on the four-hour chart it is trading below MA (200) H4 (1.2820). Technically speaking, the resistance of 1.2750 has so far kept GBP/USD from further growth. If this level is passed, then GBP/USD may rise to 1.2880. The lower bound of 1.2445 represents a strong support level. The most likely range of the pair's movement for today may be hidden within the existing range of 1.2615-1.2770.
⦁ Resistance levels are: 1.2750-70, 1.2880, 1.3010
⦁ Support levels are: 1.2615-25, 1.2485, 1.2445
The main scenario for the pair's promotion assumes a breakthrough of 1.2615-25 (Dec 2 low, MA (200) H1), a decrease to 1.2485 (Nov 27 low) and then, maybe, to 1.2445 (Nov 22 low)
An alternative scenario implies a breakout of the resistance of 1.2750-70 (Nov 13 and 29 high) and there may be an increase to 1.2880 (Nov 12 high)
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