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- GBP/USD is testing MA (200) H1
GBP/USD is testing MA (200) H1
Today, the GBP/USD pair is trading mainly with a decrease from $1.2005 to $1.1915 and is testing the MA (200) H1 moving average line ($1.1925) on the hourly chart. On the four-hour chart, the pair remains below MA (200) H4 ($1,2125). Technically speaking, the support of $1.1890 may keep prices from further decline. The upper limit of $1.2045-55 represents the resistance level.
⦁ Resistance levels are: $1.2005, $1.2045-55, $1.2125
⦁ Support levels are: $1.1890, $1.1805, $1.1760
The main scenario for the pair's promotion — support breakout of $1.1890 (July 21 low) and there may be a decline to $1.1805 (July 15 low)
An alternative scenario — the resistance breakout is $1.2005 (July 21 high, session maximum) and there may be an increase to $1.2045-60 (July 8 and 19 highs)
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