19:18 GBP/USD rose above MA (200) H1
Today, the GBP/USD pair has risen sharply from $1.3755 to $1.3825, but remains slightly below the five-week high of $1.3835 reached earlier last week. On the hourly chart, the pair rose above the moving average line MA (200) H1 ($1.3765) and on the four-hour chart remains above MA (200) H4 ($1.3690). Technically speaking, a strong resistance level of $1.3835 may keep prices from rising further. The lower bound of $1.3710-35 represents support levels. The most likely range of price movement for today may be hidden within the range of $1.3710-$1.3835.
⦁ Resistance levels are: $1.3835-50, $1.3915, $1.3960
⦁ Support levels are: $1.3765, $1.3710-35, $1.3670
The main scenario for the pair's promotion — resistance breakout of $1.3835-50 (September 15-16 and October 19-21 highs) and may be an increase to $1.3915 (September 14 high)
An alternative scenario — correction and may be a decline to $1.3710-35 (October 18 and 22 lows)
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