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- GBP/USD is trading near a 14-month high
GBP/USD is trading near a 14-month high
Today, the GBP/USD pair is trading in the range of $1.2750-1.2810 - around the 14-month high of $1.2850 reached on Friday. On the hourly chart, the pair rose above the MA (200) H1 moving average line ($1.2655). The situation is similar on the four-hour chart. Technically speaking, the resistance of $1.2850 may keep prices from rising further. The lower bound of $1.2630 represents the support level.
⦁ Resistance levels are: $1.2850, $1.2970, $1.3085
⦁ Support levels are: $1.2630-25, $1.2485, $1.2390
The main scenario of the pair's promotion implies a breakout of the resistance of $1.2850 ( June 16 high) and there may be an increase to $1.2970 (April 19’ 2022 high)
An alternative scenario assumes a breakout of the support of $1.2630-25 (June 15 low, MA (200) H1) and there may be a decline to 1.2485 (June 12 low).
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