Today, the GBP / USD pair is mostly down from 1.2630 to 1.2530, hitting a 12-week low. On the hourly chart, the pair dipped below the MA (200) H1(1.2630) moving average line. On the four-hour chart, the pair remains below the MA (200) H4(1.2735). Technically speaking, the level of 1.2530 may keep prices from further declines. In case of its breakdown, the pair may drop to 1.2490. The upper boundary of 1.2640 represents a strong resistance level.
⦁ Resistance levels are: 1.2640, 1.2710, 1.2745-65
⦁ Support levels are: 1.2530, 1.2490, 1.2390
The main scenario for the pair suggests a break of the session low of 1.2530 and maybe a decline to 1.2490 (June 12 low)
The alternative scenario implies a rise to 1.2640 (Sep 4 high) and then, maybe, to 1.2710 (Sep 1 high).
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