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- GBP/USD remains above MA (200) H1
GBP/USD remains above MA (200) H1
Today, there is a pronounced upward movement on the hourly chart of GBP/USD, which began after a sharp decline and the formation of a base around 1.2710. After that, the price rose steadily, breaking through the key resistance levels of 1.2865, 1.29340, 1.3030 and 1.3145, and is currently approaching the level of 1.3210. The price is well above the MA (200) H1 moving average (1.2940), which has begun to turn up, confirming the trend change to bullish. The MACD indicator confirms the current upward trend: the histogram is growing and remains in the positive zone, which indicates the dominance of buyers and the presence of a steady momentum. Despite possible short-term pullbacks, the overall technical picture points to continued growth. The current trend remains steadily upward while the price remains above 1.3030.
Resistance levels are: 1.3210, 1.3305, 1.3435
Support levels are: 1.3030, 1.2940, 1.2865
The main scenario for the pair's advance assumes a breakout of the resistance at 1.3210 (April 3 high) and there may be an increase to 1.3305 (Oct 2 high)
An alternative scenario implies a decline to 1.3030 (low of the American session on April 11) and there may be a decrease in MA (200) H1 (1.2940).
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