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- GBP/USD is trading above MA (200) H1
GBP/USD is trading above MA (200) H1
Today, the GBP/USD pair is trading mainly with a decrease from $1.3830 to 1.3765 and remains above the MA (200) H1 moving average line ($1.3745) on the hourly chart. But on the four-hour chart, the pair remains below MA (200) H4 ($1.3870). Technically speaking, the resistance level of $1.3830 keeps prices from rising. The lower limit of $1.3720 represents the support level. The most likely range of the pair's movement for today may be hidden within the range of $1.3720-1.3830.
⦁ Resistance levels are: $1.3830, $1.3910, $1.3940
⦁ Support levels are: $1.3720-40, $1.3690, $1.3570
The main scenario for the pair's promotion - if the session high of $1.3830 (July 26 high is broken, the pair may rise to $1.3910 (July 12-13 high)
An alternative scenario - support breakout of $1.3720-40 (July 23-26 lows, MA (200) H1) and there may be a decline to $1.3690 (July 22 low)
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