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- GBP/USD is declining and is testing the MA (200) H1
GBP/USD is declining and is testing the MA (200) H1
Today, by the beginning of European trading, the GBP/USD pair rose from $1.2860 to $1.2930, then fell sharply and at the time of writing is trading around $1.2850. On the hourly chart, the pair fell slightly below the moving average line of MA (200) H1 ($1.2880), and on the four-hour chart, it remains below MA (200) H4 ($1.3005). Support of $1.2805 may keep GBP/USD from further decline. If it breaks through, the price may drop to $1.2745. On the other hand, a break of the session high of $1.2930 may push the pair to rise to $1.3005. The most likely range of price movement today may be hidden within the range of $1.2805-1.2940.
⦁ Resistance levels are at: $1.2930, $1.3005, $1.3040
⦁ Support levels are at: $1.2805, $1.2745, $1.2675-85
The main scenario for the pair's promotion - decline to $1.2805 (September 30 low), and then, there may be a drop to $1.2745 (September 27 low)
An alternative scenario - if the session high of $1.2930 breaks, the pair is likely to grow to 1.3005 (September 16-18 and October 6 high)
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