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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 1.2510-65 and is testing the MA (200) H1 (1.2530) moving average line on the hourly chart. The situation is similar on the four-hour chart. Technically speaking, the resistance level of 1.2595 can keep prices from rising further. If it breaks through, the pair may rise to 1.2635. The lower bound of 1.2420 represents a strong support level.
⦁ Resistance levels are: 1.2595, 1.2635, 1.2710
⦁ Support levels are: 1.2500, 1.2420-45, 1.2300
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 1.2500 support (May 10 low) and there may be a decrease to 1.2420-45 (April 2 and May 9 lows).
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