Today, the GBP/USD pair is trading in the range of $1.2040-1.2125 - about a 3-month high. The pair broke through the resistance of $1.2020, which became the closest support, On the hourly chart the pair rose above the moving average line MA (200) H1 ($1.1875). On the four-hour chart, the pair remains above MA (200) H4 ($1,1500). Technically speaking, the resistance of $1.2150 may keep prices from rising further. Lower bound $1.1870 represents the support level.
⦁ Resistance levels are: $1.2150, $1.2215, $1.2275
⦁ Support levels are: $1.2020, $1.1870-75, $1.1780
The main scenario of the pair's promotion assumes an increase to $1.2150 (August 15 and 17 high) and then, maybe, to $1.2215 (August 12 high)
The alternative scenario assumes a decline to $1.1870-75 (November 23 low, MA (200) H1)
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