Today the GBP / USD pair is mainly rising in the range of 1.2185-1.2235, on the hourly chart it rose slightly above the MA (200) H1(1.2150) moving average line. On the four-hour chart, the pair is testing the MA (200) H4(1.2190). Technically speaking, the resistance level of 1.2290 may keep prices from further growth. In case of its breakdown, the pair may rise to 1.2340. The lower boundary of 1.2070 represents a strong support level.
⦁ Resistance levels are: 1.2290, 1.2340, 1.2425
⦁ Support levels are: 1.2150, 1.2070, 1.2035
The main scenario for the pair suggests a rise to 1.2290 (Oct 24 high) and maybe a rise to 1.2070 (Oct 11 high).
The alternative scenario implies a decline in MA (200) H1(1.2150) and then, maybe, to 1.2070 (Oct 26 low).
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