Today, the GBP/USD pair is trading mainly with a decline from $1.2265 to $1.2170 and is testing the MA (200) H1 moving average line ($1,2205) on the hourly chart. On the four-hour chart, the pair is trading below MA (200) H4 ($1.2400). Technically speaking, the support of $1.2040 can keep prices from further decline. The upper limit of $1.2405 represents the resistance level.
⦁ Resistance levels are: $1.2325, $1.2405, $1.2520
⦁ Support levels are: $1.2160, $1.2040, $1.1930
The main scenario for the pair's promotion — support breakthrough of $1.2160 (June 22 low) and there may be a decline to $1.2040 (June 16 low)
An alternative scenario — the resistance breakout is $1.2325 (June 21 high) and there may be an increase to $1.2405 (June 16 high)
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