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- GBP/USD remains above MA (200) H1
GBP/USD remains above MA (200) H1
Today, at the beginning of European trading, the GBP/USD pair fell sharply from $1.2950 to $1.2820, but soon rose again, regaining almost all the lost positions. On the hourly chart, the pair is trading above the moving average line of MA (200) H1 ($1.2805), but on the four-hour chart, GBP/USD remains below MA (200) H4 ($1.3040). The $1.2805-20 area is still keeping GBP/USD from falling. If it breaks through, the price may drop to $1.2760. The session high of $1.2950 is the nearest resistance, and its breakout may push the pair to rise to $1.3005. The most likely range of price movement today may be hidden within the range of $1.2805-1.2950
⦁ Resistance levels are at: $1.2950, $1.3005, $1.3040
⦁ Support levels are at: $1.2805-20, $1.2760, $1.2675-85
The main scenario for the pair's promotion - in case of a breakout of the $1.2805-20 area (September 30 low, session low, MA (200) H1), the pair may decline to $1.2760 (September 11 low and low of the European session September 28)
An alternative scenario - break of the session high of $1.2950 and the pair's likely growth to $1.3005 (September 16 high)
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