GBP/USD retreated slightly from the 20-day low

Today, the GBP/USD pair is mainly growing in the range of 1.3125-75 after falling yesterday to a 20-day low of 1.3090. The pair broke through the 1.3240 support yesterday, which became the nearest resistance. On the hourly chart, GBP/USD has fallen below the MA (200) H1 (1.3320) moving average line and is testing MA (200) H4 (1.3200) on the four-hour chart. Technically speaking, the support of 1.3090 has so far kept GBP/USD from further decline. If this level is passed, then GBP/USD may fall to 1.3005. The upper limit of 1.3305 represents a strong resistance level.

⦁ Resistance levels are: 1.3240, 1.3305-20, 1.3435

⦁ Support levels are: 1.3090, 1.3005, 1.2940

The main scenario for the pair's promotion assumes a breakout of support at 1.3090 (Oct 3 low) and may be a decline to 1.3005 (Sept 11 low)

The alternative scenario implies an increase to 1.3240 (Oct 1 low) and then, maybe, to 1.3305 (Oct 2 high)