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- GBP/USD is growing and testing MA (200) H1
GBP/USD is growing and testing MA (200) H1
Today, there is a steady upward momentum on the hourly chart of GBP/USD, with a sharp increase from the support level of 1.2710, which signals a reversal of the previous downward trend. The price broke through the 1.2865 level and approached the 1.2945 resistance, in the area of which the MA (200) H1 moving average (1.2910) also passes. This may become a key zone that determines the further direction of the pair's movement - in the event of an upward breakdown, the path opens to 1.3016, and with a rebound, a correction may form. The MACD indicator is in a positive zone, showing a growing histogram and confirming the strength of the current bullish momentum. In case of correction, important support levels are 1.2865 and further 1.2710. The current dynamics remains bullish, but the near-term price action at 1.2945 will show whether the momentum will continue or a pullback will begin.
Resistance levels are: 1.2935, 1.3015, 1.3115
Support levels are: 1.2865, 1.2710, 1.2675
The main scenario for the pair's advance suggests a breakout of the resistance of 12935 (April 8 high) and there may be an increase to 1.3015 (March 20 high)
An alternative scenario implies a breakout of 12885 (March 27 low, April 9 high) and there may be a decline to 1.2710 (April 7 low)
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