On Friday, the GBP/USD pair was trading lower and closed the day in the red zone near the price of 1.2575. Today, the pair, on the contrary, rose slightly, rising to the level of 1.2600. On the hourly chart, GBP/USD is still trading below the moving average line MA (200) H1 (1.2705). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the south direction in trading, and while the pair remains below MA 200 H1, it may be necessary to look for entry points to sell for the formation of a correction.
Probably, the main scenario is renewed decline towards 1.2550 (Aug 25 low).
The alternative scenario is final consolidation above the MA 200 H1 level, followed by a rise to 1.2800 (Aug 22 high).
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