Yesterday, the GBP/USD pair traded in different directions and closed the day in positive territory near the price of $1.2180. Today, the pair was trading in a narrow range of $1.2160-05, remaining close to yesterday's closing price. On the hourly chart, GBP/USD has consolidated above the MA (200) H1 moving average line ($1.2035). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the northern direction in trading and while the pair remains above MA 200 H1, it is necessary to look for entry points to buy for the formation of a correction.
Resistances levels are at: $1.2210, $1.2290, $1.2330
Support levels are at: $1.2100, $1.2020-35, $1.1960
The main scenario for the pair's promotion is a breakout of the resistance of $1.2210 (July 28 high) and there may be an increase to $1.2290 (June 28 high)
The alternative scenario implies a breakout of the support $1.2100 (July 28 low) followed by a decline to $1.2020-35 (July 27 low, MA (200) H1).
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