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- GBP/USD is testing MA (200) H1
GBP/USD is testing MA (200) H1
Today, the hourly chart of the GBP/USD currency pair is consolidating with attempts to overcome the moving average MA (200) H1 (1.2950), which indicates market uncertainty. The price is trading in a range with support at 1.2870 and resistance at 1.2960. The MACD indicator shows a decrease in the histogram, which may indicate a loss of upward momentum. If the price manages to gain a foothold above 1.2970, it may open the way to 1.2990 and 1.3015. In case of a breakdown of the 1.2870 support, a decline to 1.2860 and further to 1.2770 is likely. The overall trend remains neutral, but a breakdown of key levels may set the direction for further movement.
Resistance levels are: 1.2970-90, 1.3015, 1.3050
Support levels are: 1.2860-70, 1.2770, 1.2680
The main scenario for the pair's advance suggests a breakout of the area 1.2970-90 (March 27 high, session maximum) and there may be an increase of 1.3015 (March 20 high)
An alternative scenario implies a breakout of the support 1.2860-70 (March 10 and 26-27 lows) and there may be a decline to 1.2770 (March 5 low)
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