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- GBP / USD is trading near a two-month low
GBP / USD is trading near a two-month low
Today, the GBP / USD pair is trading in the range of $1.2675-1.2745-near a two-month low, after a sharp decline in yesterday's us trading from $1.2870 to $1.2710. On the hourly chart, the pair remains below the moving average line MA (200) H1 ($1.2870) and on the four - hour chart-below MA (200) H4 ($1.3080). The session low of $1.2675 may keep GBP / USD from further decline. If it breaks through, the price may fall to $1.2640 (July 22 low). $1.2765-75 represents the resistance level. If it is passed, then the pair may be followed by a correction to $1.2815. The most likely range of price movement today may be hidden within the range of $1.2675-1.2815.
⦁ Resistance levels are at: $1.2765-75, $1.2815, $1.2965
⦁ Support levels are at: $1.2675, $1.2640, $1.2510
The main scenario for the pair's promotion - breakout of the session low of $1.2675 (July 23 low) and probable decline to $1.2675 (July 21-22 low)
An alternative scenario - breakout of the $1.2765-75 area (September 10-11 and 21 lows) and the pair's likely growth to $1.2965 (September 22 high, MA (200) H1)
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