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- GBP/USD pair remains above MA (200) H1
GBP/USD pair remains above MA (200) H1
Today, since the beginning of trading, the GBP/USD pair has fallen to $1.2990, but during the European session it rose to $1.3075, regaining lost positions. On the hourly chart, the pair remains above the MA (200) H1 moving average line ($1.3000). The situation is similar on the four-hour chart. The support of $1.2990-1.3000 kept GBP / USD from falling. A break in the $1.3080 resistance may push the pair to rise to $1.3120. This means that finding a buy exit may be a wise decision for those who want to take advantage of the stronger British pound. The most likely range of price movement to date may be hidden within the range. $1.2990-1.3120.
⦁ Resistance levels are at: $1.3080, $1.3120, $1.3175
⦁ Support levels are at: $1.2990-1.3000, $1.2910, $1.2860
The main scenario for the pair's promotion - breakout of the $1.3080 resistance (October 12 high), and the pair's rise to $1.3120 (October 23 high)
An alternative scenario - in case of a breakout of $1.2990-1.3000 (session low, MA (200) H1), the pair is likely to decline to $1.2910 (October 20 low)
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