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- The GBP/USD pair rose sharply to a one-week high
The GBP/USD pair rose sharply to a one-week high
Today, the GBP/USD pair rose sharply from $1.2940 to $1.3070, reaching a one-week high. The pair broke through the $1.3025 resistance (October 19 high), which became the closest support. On the hourly chart, the pair rose above the MA (200) H1 moving average line ($1.2975). The situation is similar on the four-hour chart. The $1.3080 resistance may keep GBP/USD from rising further. If this level is broken, the pair may rise to $1.3320. On the other hand, a break in the $1.3025 support may push the pair down to the MA (200) H1 ($1.2975). Finding a buy position can be a wise decision for those who want to take advantage of the stronger British pound.
⦁ Resistance levels are at: $1.3080, $1.3320, $1.3480
⦁ Support levels are at: $1.3025, $1.2975, $1.2910
The main scenario for the pair's promotion - breakout of the $1.3080 resistance (October 12 high) and the pair's likely growth to $1.3320 (September 8 high)
An alternative scenario - if the support breaks $1.3025 (October 19 high), the pair is likely to decline to MA (200) H1 ($1.2975)
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