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- GBP/USD is testing MA (200) H1
GBP/USD is testing MA (200) H1
Today, the GBP/USD pair is mainly growing in the range of 1.2910-75. The hourly chart shows an attempt at growth after a rebound from local lows. The price is trading near 1.2950, having overcome the MA (200) H1 moving average line (1.2960), which may signal a possible continuation of the upward movement. The nearest resistance is at 1.2975, and the next key level is 1.3015. Support is located at 1.2885 and lower at 1.2860. The MACD indicator shows an increase in the histogram in the positive zone, which indicates an increasing bullish momentum. In case of consolidation above 1.2975, a move to 1.3015 is likely, however, a pullback below 1.2940 may lead to a decrease to the nearest supports.
Resistance levels are: 1.2975, 1.3015, 1.3050
Support levels are: 1.2885, 1.2860, 1.2770
The main scenario for the pair's advance suggests a breakout of the session high of 1.2975 and a possible increase of 1.3015 (March 20 high)
An alternative scenario implies a breakout of the support 1.2885 (March 21 low) and there may be a decline to 1.2860 (March 10 low)
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