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- GBP/USD remains above MA (200) H1
GBP/USD remains above MA (200) H1
Today, the GBP/USD pair is mostly declining from 1.3115 to 1.2960 after rising yesterday to a 6-month high of 1.3205. Now the price has rolled back to the level of 1.3010, where it is trying to stabilize. The 200-period moving average (SMA) (1.2960) remains below current values, which confirms the medium-term uptrend. However, the MACD indicator indicates the development of a bearish phase, which may indicate a possible continuation of the correction. The nearest support levels are at 1.2960 and 1.2900, the breakdown of which may strengthen the downward movement. In case of a recovery in growth, the nearest resistance remains the level of 1.3115, and its penetration will open the way to 1.3205.
Resistance levels are: 1.3115, 1.3205, 1.3305
Support levels are: 1.2960, 1.2900, 1.2870
The main scenario for the pair's advance suggests a breakout of the session high of 1.3115 and there may be an increase to 1.3205 (April 3 high)
An alternative scenario implies a breakout of the session low of 1.2960 and there may be a decline to 1.2900 (April 2 low)
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