12:28 GBP/USD continues to test resistance MA 200 H1
Yesterday the GBP/USD traded in different directions in the range of $1.2865-$1.3000 and closed the day without significant changes. It was also trading in a narrow range of $1.2940-90 today, staying close to yesterday's closing price. On the hourly chart, GBP/USD continues to test the resistance for the third day - the moving average MA (200) H1 ($1.2935). On the four-hour chart, it remains below the MA 200 H4 line. Based on the foregoing, it is probably worth adhering to the southern direction in trading and until the GBP/USD finally consolidates above MA 200 H1, it may be necessary to look for a sell entry point at the end of the correction.
Resistances levels are at: $1.3035, $1.3160-80, $1.3235
Support levels are at: $1.2865, $1.2815, $1.2765
Probably, the main scenario - is the continuation of the decline to $1.2865 (Sep 17 low). An alternative scenario - may be consolidation above the MA 200 H1 level with a subsequent rise to $1.3160 (Sep 8 high).
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