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- GBP/USD is trading near a monthly low
GBP/USD is trading near a monthly low
Today, the GBP/USD pair is mainly declining from 1.2715 to 1.2670 - near the monthly low of 1.2645 reached on Friday. On the hourly chart, the pair fell below the moving average line MA (200) H1 (1.2740) and on the four-hour chart it is testing MA (200) H4 (1.2680). Technically speaking, the support of 1.2645 may keep the pair from further decline. If this level is passed, then GBP/USD may fall to 1.2500. The upper limit of 1.2815 represents a strong resistance level.
⦁ Resistance levels are: 1.2715, 1.2765, 1.2815
⦁ Support levels are: 1.2645-65, 1.2500, 1.2445
The main scenario for the pair's promotion assumes a breakout of support 1.2645-55 (May 16-17, June 14-17 lows) and there may be a decrease to 1.2500 (May 10 low)
An alternative scenario implies a breakout of the session high of 1.2715 and MA (200) H1 (1.2740) and there may be an increase to 1.2765 (June 14 high)
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