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- GBP/USD is mostly rising, but remains below MA (200) H1
GBP/USD is mostly rising, but remains below MA (200) H1
Today, the GBP/USD pair is mainly growing in the range of 1.2505-70, further retreating from the monthly low of 1.2475 reached last week. On the hourly chart, GBP/USD remains slightly below the MA (200) H1 moving average line (1.2590) and below MA (200) H4 (1.2660) on the four-hour chart. Technically speaking, the resistance of 1.2575 may keep the GBP/USD from rising further. If this level is passed, the pair may rise to 1.2615. The lower boundary of 1.2475 represents a strong support level. The most likely range of movement of the pair for today may be hidden within the existing range of 1.2475-1.2615.
⦁ Resistance levels are: 1.2575, 1.2615, 1.2670
⦁ Support levels are: 1.2475-1.2510, 1.2445, 1.2420
The main scenario for the pair's advance suggests a breakout of the area 1.2475-1.2510 (Dec 20 and 26 lows) and there may be a decline to 1.2445 (May 9 low)
An alternative scenario implies a breakout of the resistance 1.2575 (Dec 24 high) and there may be an increase to 1.2615 (Dec 20 high)
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