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- GBP/USD dropped sharply to the lows of early November 2020
GBP/USD dropped sharply to the lows of early November 2020
Today, the GBP/USD pair has sharply declined from $1.3040 to $1.2860, reaching a low of the beginning of November 2020. On the hourly chart, the pair was fixed below the moving average line MA (200) H1 ($1.3040) and on the four-hour chart - below MA (200) H4 ($1.3095). In this situation, the scenario of further decline of the GBP/USD pair is likely and finding a sell position may be a wise decision.
⦁ Resistance levels are: $1.2970, $1.3040, $1.3080
⦁ Support levels are: $1.2855-60, $1.2805, $1.2745
The main scenario for the pair's promotion — the support breakthrough is $1.2855-60 (November 2’ 2020 low, session minimum) and there may be a decline to $1.2805 (September 30’ 2020 low)
An alternative scenario — it is still possible for the pair to rise to $1.3040 (session maximum, MA (200) H1)
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