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- GBP/USD remains above MA (200) H1
GBP/USD remains above MA (200) H1
Today, the GBP/USD pair is trading in the range of $1.2920-70 and remains above the MA (200) H1 moving average line ($1.2910). However, on the four-hour chart, the pair is trading below the MA (200) H4 ($1.2995), remaining under the control of the bears. The $1.2970 resistance is still keeping GBP/USD from rising. If it breaks through, the price may rise to $1.3005. On the other hand, a break in the $1.2890-1.2910 area may push the pair down to $1.2845. The most likely range of price movement today may be hidden within the range of $1.2890 -1.2970
⦁ Resistance levels are at: $1.2970, $1.3005, $1.3040
⦁ Support levels are at: $1.2890-1.2910, $1.2845, $1.2805
The main scenario for the pair's promotion - decline to $1.2890-1.2910 (October 8 low, MA (200) H1), and then, there may be a drop to $1.2845 (October 7 low)
An alternative scenario - if the session high of $1.2970 (October 8 high), breaks, the pair is likely to grow to 1.3005 (September 16-18 and October 6 high)
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