Technical Analysis
17.03.2023, 11:58

GBP/USD remains slightly above MA (200) H1

Today, the GBP/USD pair is trading in the range of $1.2100-75 after rising on Monday-Tuesday to a monthly high of $1.2205. On the hourly chart, the pair remains above the moving average line MA (200) H1 ($1.2025) and on the four-hour chart slightly above MA (200) H4 ($1.2070). Technically speaking, the support of $1.010-25 may keep prices from further decline. The upper limit of $1.2205 represents a strong resistance level.

⦁ Resistance levels are: $1.2205, $1.2270, $1.2400

⦁ Support levels are: $1.2010-25, $1.1910, $1.1805

The main scenario of the pair's promotion assumes a breakout of the resistance of $1.2205 (March 13-14 high).and there may be an increase to $1.2270 (February 14 high).

An alternative scenario implies a breakout of the support of $1.010-25 (March 15-16 lows, MA (200) H1) and there may be a decline to $1.1910 (March 10 low).

Symbol Bid Ask Time

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