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- GBP/USD is testing MA (200) H1
GBP/USD is testing MA (200) H1
Today, the GBP/USD pair has slightly declined and is testing the MA (200) H1 moving average line ($1.3730), retreating from yesterday's high of $1.3765. On the four-hour chart, the pair is trading below MA (200) H4 ($1.3805). Technically speaking, a strong resistance level of $1.3765-85 can keep prices from rising. If it breaks through, the pair may soar to $1.3880-95. The lower limit of $1.3695 represents a strong support level. The most likely range of the pair's movement for today may be hidden within the range of $1.3695-1.3785.
⦁ Resistance levels are: $1.3765-85, $1.3880-95, $1.3960
⦁ Support levels are: $1.3695, $1.3600, $1.3570
The main scenario for the pair's promotion — the pair may decline to $1.3695 (August 24-25 low)
An alternative scenario — if the resistance of $1.3765-85 (August 18 and 25 highs, the session maximum) is broken, the pair can rise to $1.3880-95 (August 9-16 highs)
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