Technical analysis

18 September 2020

19:28 GBP / USD rose slightly above MA (200) H1, but remains below MA (200) H4

Today, the GBP / USD pair is trading in the range of $1.2940-1.3000 and has risen slightly above THE mA (200) H1 moving average line ($1.2920). But on the four-hour chart, the pair remains below MA (200) H4 ($1.3110). A strong resistance level of $1.3005-30 may keep GBP / USD from further growth. If it breaks through, the price may rise to $1.3175. The session low of $1.2940 and MA (200) H1 ($1.2920) represent support levels. If these levels are passed, the pair may follow a correction to $1.2865. The most likely range of price movement today may be hidden within the range of $1.2865-1.3030


Resistance levels are at: $1.3005-30, $1.3175, $1.3320

Support levels are at: $1.2920-40, $1.2865, $1.2760


The main scenario for the pair's promotion - breakout of the session low of $1.2940 and MA (200) H1 ($1.2920), and the pair's likely decline to $1.2865 (September 17 low)

An alternative scenario - breakout of the $1.3005-30 area (September 9-10 and 16 highs) and the pair's likely growth to $1.3175 (September 4 low, September 8 high)

GBP / USD rose slightly above MA (200) H1, but remains below MA (200) H4 18.09.2020


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