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- Technical Analysis
- GBP / USD is trading slightly above a two-month low
GBP / USD is trading slightly above a two-month low
Today, the GBP/USD pair is trading down from $1.3940 to $1.3860, after yesterday retreating from a two-month low of $1.3785. On the hourly chart, the pair is trading below the moving average line MA (200) H1 ($1.4020) and on the four - hour chart-below MA (200) H4 ($1.4100). Technically speaking, the strong resistance level of$1.3945 kept prices from rising further. If it breaks through, prices can soar to $1.4010-20. The lower bound of $1.3785 represents the support level. The most likely range of the pair's movement for today may be hidden within the range of $1.3785-1.3945.
⦁ Resistance levels are: $1.3945, $1.4010-20, $1.4130
⦁ Support levels are: $1.3785, $1.3715, $1.3670
The main scenario for the pair's promotion - decline to $1.3785 (June 21 low) and then, maybe, to $1.3715 (April 16 low)
An alternative scenario - if the resistance of $1.3945 (June 18 high) is broken, the pair can rise to $1.4010-20 (June 17 high, MA (200) H1)
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