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- GBP/USD is rising, but remains near a 2-year low
GBP/USD is rising, but remains near a 2-year low
Today, the GBP/USD pair is trading mainly with an increase from $1.1990 to $1.2110 after falling yesterday to a 2-year low of $1.1930. On the hourly chart, the pair dropped below the MA (200) H1 moving average line ($1.2395). The situation is similar on the four-hour chart. Technically speaking, the support of $1.1930 can keep prices from further decline. The upper limit of $1.2520 represents the resistance level.
⦁ Resistance levels are: $1.2210, $1.2395, $1.2520
⦁ Support levels are: $1.1930, $1.1775, $1.1640
The main scenario for the pair's promotion — the support breakthrough is $1.1930 (June 14 low) and there may be a decline to $1.1775 (March 25’ 2020 low)
An alternative scenario — the resistance breakout is $1.2210 (June 14 high) and there may be an increase to $1.2520 (June 10 high)
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