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- GBP / USD tests MA (200) H1
GBP / USD tests MA (200) H1
Today the GBP / USD pair is mostly declining from 1.2785 to 1.2715 and is testing the MA (200) H1(1.2785) moving average line on the hourly chart. On the four-hour chart, the situation is similar. Technically speaking, the support at 1.2600-20 may keep prices from further declines. If broken, GBP / USD could fall to 1.2490. The upper boundary of 1.2790-1.2805 represents a resistance level. The most probable range of the pair's movement for today may be hidden within the existing range of 1.2620-1.2805
⦁ Resistance levels are: 1.2790-1.2805, 1.2890, 1.2995
⦁ Support levels are: 1.2680, 1.2600-20, 1.2490
The main scenario for the pair suggests a break of the support at 1.2680 (August 4 low) and a possible decline to 1.2600-20 (June 14 and August 3 lows)
The alternative scenario implies a rise to 1.2790-1.2805 (August 2 and 4 highs) and there could be a rise to 1.2890 (July 28 high).
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