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- Technical Analysis
- GBP/USD dropped to almost a one-month low
GBP/USD dropped to almost a one-month low
Today, the GBP/USD pair dropped sharply from $1.3550 to $1.3380, reaching an almost monthly low. On the hourly chart, the pair dropped below the moving average MA (200) H1 ($1.3570). The situation is similar on the four-hour chart. Technically speaking, a strong support level of $1.3355 may keep prices from further decline. The upper limit of $1.3620-45 represents the resistance level.
⦁ Resistance levels are: $1.3485, $1.3570, $1.3620-45
⦁ Support levels are: $1.3355, $1.3240, $1.3170
The main scenario for the pair's promotion — continuation of the downward movement to is likely $1.3355 (January 27 low)
An alternative scenario — correction and there may be an increase to MA (200) H1 ($1.3570)
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