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- GBP/USD is testing MA (200) H1
GBP/USD is testing MA (200) H1
Today, on the hourly chart, the GBP/USD pair is trading in the range of 1.2900-50 and is testing the MA (200) H1 moving average line (1.2930). However, the last candlesticks show an attempt at growth, and the price is testing the 1.2950 level, which is the nearest resistance. If the bulls manage to gain a foothold above this level, the next target may be 1.2970, and then 1.2990. Otherwise, a bounce down to the support levels of 1.2900 and 1.2880 is possible. The MACD indicator is showing a growing bullish momentum, as the histogram has moved into a positive zone, which may signal continued corrective growth. However, the main direction remains bearish until the price is fixed above the 200-period moving average.
Resistance levels are: 1.2950, 1.2970-90, 1.3015
Support levels are: 1.2900, 1.2870-80, 1.2860
The main scenario for the pair's advance suggests a breakout of the session high of 1.2950 and there may be an increase to the area of 1.2970-90 (March 27 and 31 highs)
An alternative scenario implies a breakout of the session low of 1.2900, a decline to 1.2870-80 (March 26-27 and April 1 lows) and then, perhaps, to 1.2860 (March 10 low)
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