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- GBP/USD is trading near a 4-month high
GBP/USD is trading near a 4-month high
There is a steady upward trend on the hourly chart of GBP/USD today. The pair is trading in the range of 1.2910-60, remaining near the 4-month high. The MA (200) H1 moving average line (1.2820) remains below the current price, which confirms the uptrend. The MACD histogram, despite the recent correction, remains in the positive zone, indicating the possibility of continued growth. GBP/USD maintains bullish momentum. Consolidation above 1.2970 will open the way to new highs. In case of a pullback, the key support remains 1.2910. As long as the price remains above MA (200) H1, the probability of continued growth remains high.
Resistance levels are: 1.2970, 1.3010, 1.3050
Support levels are: 1.2910, 1.2860, 1.2820
The main scenario for the pair's advance assumes a breakout of the resistance at 1.2970 (March 11 high) and there may be an increase to 1.3010 (Nov 7 high)
An alternative scenario implies a breakout of the session low of 1.2910 and there may be a decline to 1.2860 (March 10 low)
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