GBP/USD pair under bull control as of 01.11.2019
14:41 GBP/USD pair under bull control
The pair GBP/USD trades in the range of $1.2925-70 near the high of October 24, $1.2955, but remains slightly below the five-month high of $1.3015, reached last week on Monday. GBP/USD has risen above the MA (200) H1 ($1.2885) moving average, and on the four-hour chart it trades significantly above MA (200) H4 ($1.2570), remaining under full bull control. In this situation, it is worth adhering to the northern direction of trade and looking for points of exit to buy.
- Resistances are at: $1.2975, $1.3010, $1.3080
- Support levels are located at: $1.2895-1.2905, $1.2845, $1.2785-1.2805
The main scenario of the pair promotion is the breakthrough of yesterday’s high of $1.2975 and continuation of the uptrend of October 21 $1.3010
Alternative scenario – breakthrough of the region $1.2895-1.2905 (maximum October 29-30, MA (200) H1) and decrease to $1.2845 (minimum October 30)