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- GBP / USD is rising and testing the MA (200) H1
GBP / USD is rising and testing the MA (200) H1
Today, the GBP / USD pair is mostly rising from 1.2690 to 1.2770 and is testing the MA (200) H1(1.2720) moving average line on the hourly chart. On the four-hour chart, the pair is trading below the MA (200) H4(1.2825). Technically speaking, the resistance at 1.2770 could keep prices from rising further. Should it be broken, GBP/USD could rise towards 1.2820. The lower boundary of 1.2615 represents a strong resistance level. The most probable range of the pair's movement for today may be hidden within the existing range of 1.2615-1.2770
⦁ Resistance levels are: 1.2770, 1.2820, 1.2890
⦁ Support levels are: 1.2675, 1.2600-15, 1.2490
The main scenario for the pair suggests a decline to 1.2675 (August 15 low) and may be a decline to 1.2600-15 (June 14 and August 14 lows)
The alternative scenario implies a breakout of the session high of 1.2770 and there could be a rise to 1.2820 (August 10 high).
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