Today, the GBP / USD pair is mostly down from 1.2505 to 1.2460 and remains near the 3-month low of 1.2435. On the hourly chart, the pair fell below the MA (200) H1(1.2520) moving average line. On the four-hour chart, the pair remains below the MA (200) H4 (1.2660). Technically speaking, the support level of 1.2430-35 may keep prices from further declines. In case of its breakdown, the pair may fall to 1.2370. The upper boundary of 1.2550 represents a strong resistance level.
⦁ Resistance levels are: 1.2510-20, 1.2550, 1.2590
⦁ Support levels are: 1.2430-35, 1.2370, 1.2310
The main scenario for the pair suggests a break of support at 1.2430-35 (June 8 and Sept 13 lows) and may be a decline to 1.2370 (June 5 low)
The alternative scenario implies a break of the resistance at 1.2510-20 (Sept 13 high, MA (200) H1) and there could be a rise to 1.2550 (Sept 11 high).
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