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- GBP/USD is testing MA (200) H1
GBP/USD is testing MA (200) H1
Today, the GBP/USD pair is trading in the range of 1.2530-70 - slightly below the 3-week high of 1.2635 reached on Friday. On the hourly chart, the pair tests the moving average line MA (200) H1 (1.2530) and on the four-hour chart it tests MA (200) H4 (1.2545). Technically speaking, the resistance level of 1.2635 may keep prices from rising further. If it breaks through, the pair may rise to 1.2710. The lower bound of 1.2420 represents a strong support level.
⦁ Resistance levels are: 1.2595, 1.2635, 1.2710
⦁ Support levels are: 1.2530, 1.2465, 1.2420
The main scenario for the pair's promotion assumes a breakout of the resistance of 1.2595 (May 6 high) and there may be an increase to 1.2635 (May 3 high)
An alternative scenario implies a breakout of MA (200) H1 (1.2530) and may be a decrease to 1.2465 (May 1 low)
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