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- The GBP / USD pair fell below MA (200) H1, but remains above MA (200) H4
The GBP / USD pair fell below MA (200) H1, but remains above MA (200) H4
Today, the GBP / USD pair declined to $1.3305 and fell below the moving average MA (200) H1 ($1.3375). Yesterday, the pair fell sharply to a two-week low of $1.3225, but recovered during US trading and closed the session around $1.3405. On the four-hour chart, the pair is trading above MA (200) H4 ($1.3200). Technically speaking, the support of $1.3285 can keep the pair from further decline. If it breaks through, the price may fall to $1.3225. The upper limit of MA (200) H1 ($1.3375) is the resistance level. If this level is passed, then GBP / USD may follow a correction to the session high of $1.3435. The most likely range of price movement for today may be hidden within the range of $1.3285-.$1.3375
⦁ Resistance levels are: $1.3375, $1.3435, $1.3500
⦁ Support levels are: $1.3285, $1.3225, $1.3165
The main scenario for the pair's promotion - correction, breakout of MA (200) H1 ($1.3380) and growth to $1.3435 (December 7 high)
An alternative scenario - if the support of $1.3285 (December 2 low) is broken, the pair may fall to $1.3225 (December 7 low)
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