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- GBP / USD is testing the MA (200) H1.
GBP / USD is testing the MA (200) H1.
Today, the GBP / USD pair is mostly rising in the range of 1.2150-1.225, on the hourly chart, pushing away from the MA (200) H1(1.2150) moving average line. On the four-hour chart, the pair is testing the MA (200) H4(1.2200). Technically speaking, the resistance level of 1.2290 may keep prices from further growth. In case of its breakdown, the pair may rise to 1.2340. The lower boundary of 1.2070 represents a strong support level.
⦁ Resistance levels are: 1.2225, 1.2290, 1.2340
⦁ Support levels are: 1.2150, 1.2070, 1.2035
The main scenario for the pair suggests a breakout of the session low and MA (200) H1(1.2150) and a possible decline to 1.2070 (Oct 26 low).
The alternative scenario implies a breakout of the session high of 1.2225 and there could be a rise to 1.2290 (Oct 24 high).
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