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- GBP/USD rose sharply to a one - week high
GBP/USD rose sharply to a one - week high
Today, the GBP/USD pair rose sharply from $1.2775 to $1.2910 - to a one-week high, retreating from the two-week low of $1.2675 reached last week. On the hourly chart, the pair rose above the moving average line of MA (200) H1 ($1.2830), but on the four-hour chart, GBP/USD remains below MA (200) H4 ($1.3060). The $1.2965 resistance may keep GBP/USD from rising further. If it breaks through, the price may rise to $1.3005. The $1.2805-30 area represents support. In the case of its breaking, the pair may be followed by a correction to $1.2750. The most likely range of price movement today may be hidden within the range of $1.2750-1.2965
⦁ Resistance levels are at: $1.2965, $1.3005, $1.3040
⦁ Support levels are at: $1.2865, $1.2805-30, $1.2750
The main scenario for the pair's promotion - correction, breakout of support at $1.2805-30 (September 25 high, MA (200) H1) and a likely decline to the session low of $1.2750.
An alternative scenario - breakout of the $1.2965 resistance (September 21 high) and the pair's likely growth to $1.3005 (September 16 high)
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