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- GBP / USD retreated from the highs of April 2018
GBP / USD retreated from the highs of April 2018
Today, the GBP/USD pair is trading mainly with a decline in the range of $1.3885-1.4020, retreating from the high of April 19, 2018 of $1.4240-45, reached this week. On the hourly chart, GBP / USD fell slightly below the moving average line of MA (200) H1 ($1.4010), but on the four-hour chart it remains above MA (200) H4 ($1.3785). Technically speaking, the $1.3885 support may keep prices from falling further. If it breaks through, the pair may fall to $1.3775. MA (200) H1 ($1.4010) represents the resistance level. The most likely range of price movement for today may be hidden within the existing range of $1.3885-1.4020.
⦁ Resistance levels are: $1.4010, $1.4085, $1.4180
⦁ Support levels are: $1.3885, $1.3775, $1.3680
The main scenario for the pair's promotion - breakout of MA (200) H1 ($1.4010), and then maybe a rise to $1.4085 (February 22 high)
An alternative scenario - break through the session low of $1.3885 and maybe decline to $1.3775 (February 12 low)
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